Biotech company Bio-Path Holdings (NASDAQ: BPTH) reported a loss of $2.5 million or $0.87 per share for the second quarter ended June 30, 2019, compared to a loss of $1.7 million or $2.96 per share for the second quarter ended June 30, 2018. Bio-Path has not generated significant revenues to date. The company’s revenue generation in the future depends on the successful development and eventual commercialization of its drug candidates.
Research and development expenses increased to $1.5 million from $0.8 million in the prior-year quarter, primarily due to the commencement of activities related to Stage 2 of Phase 2 clinical trial in AML.
As of June 30, 2019, the company had cash of $17.1 million, compared to $1.0 million at December 31, 2018. Net cash used in operating activities for the six months ended June 30, 2019 was $4.2 million compared to $3.4 million for the comparable period in 2018.
“Throughout the second quarter we continued to execute on our clinical development plans for our innovative RNAi nanoparticle therapeutics,” said CEO Peter Nielsen.
He added, “We are also looking forward to completing Investigational New Drug (IND) enabling studies of BP1003, a novel liposome-incorporated STAT3 oligodeoxynucleotide inhibitor for the treatment of pancreatic cancer, and to file an IND application for a Phase 1 study of BP1003 for the treatment of pancreatic cancer in 2020.”
Bio-Path stock closed down 0.91% at $11.96 yesterday and has dipped 33% in the past three months.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive Company’s Q4 2022 financial results
Colgate-Palmolive Company (NYSE: CL) reported fourth quarter 2022 earnings results today. Net sales increased 5% year-over-year to $4.62 billion. Organic sales growth was 8.5%. Net income attributable to Colgate-Palmolive Company was
Key highlights from Chevron Corporation’s (CVX) Q4 2022 earnings results
Chevron Corporation (NYSE: CVX) reported fourth quarter 2022 earnings results today. Total revenues and other income were $56.4 billion compared to $48.1 billion in the year-ago period. Net income attributable
AXP Earnings: All you need to know about American Express’ Q4 2022 earnings results
American Express Company (NYSE: AXP) reported fourth quarter 2022 earnings results. Consolidated total revenues net of interest expense were $14.2 billion, up 17% from a year ago. Net income was
