1/13/2012 4:10 PM ET
(RTTNews) - Canadian biopharmaceutical company Lorus Therapeutics Inc. (LOR.TO: News ,LRUSF.PK: News ) 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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by RTT Staff Writer
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