Arca Biopharma’s Q2 loss grows year over year by $1.6M – Colorado News

Arca Biopharma’s Q2 loss grows year over year by $1.6M – Colorado News

WESTMINSTER — Arca Biopharma Inc., which researches genetic therapies for cardiovascular disease, posted a net loss per share of 59 cents in the second quarter 2017, an increase from its loss of 43 cents per share during the same period last year.

The pharmaceutical company lost about $1.6 million more in Q2 2017 than it did in 2016, going from a loss of $3.9 million to $5.5 million.

Operating expenses also grew, from $3.9 million in Q2 2016 to $5.6 million for the same period this year.

No revenue for the company was reported.

Arca says it is continuing to make progress in its clinical trial of more than 250 patients. It is looking at options for that study, including transitioning to Phase 3 and adding another 370 patients, completing the current phase with 250 patients or possibly stopping it without completing. The company said it expects to know what it will do later this month.

 

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