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Lorus Loss Narrows In Q3

Lorus Therapeutics Inc. (LOR.TO: Quote) Thursday reported a third quarter loss which narrowed from last year, helped mainly by lower operating expenses.

Net loss for the period decreased to C$1.0 million or C$0.05 per share from C$1.5 million or C$0.10 per share last year.

Research and development expenses decreased to C$543 thousand from C$847 thousand last year. Salaries decreased to C$163 thousand from C$232 thousand last year due to reduction in headcount. As a result, operating expenses declined to C$ 1.02 million from C$1.55 million last year.

The Toronto-based bio-pharma company did not realize any revenues as all of its drug candidates are currently undergoing pre-clinical and clinical trials.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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