Categories Earnings, LATEST, Other Industries

Bio-Path’s loss expands in Q2

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.

Read: Arcadia Biosciences (RKDA) swings to profit in Q2

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.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top