Canadian biopharmaceutical company Lorus Therapeutics Inc. (LOR.TO,LRUSF.PK) Friday said its loss for the second quarter widened on higher expenses. Meanwhile, loss per share narrowed, owing to higher share count.
The company posted second-quarter net loss of C$1.46 million, wider than C$1.22 million last year. Meanwhile, loss per share narrowed to C$0.07 from prior year's loss of C$0.11, due mainly to higher number of shares outstanding.
Lorus Therapeutics attributed the wider net loss mainly to higher general and administrative, and research and development expenditures resulting from non-cash stock based compensation expense.
The company did not generate any revenues in the quarter, same as last year.
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