logo
Share SHARE
FONT-SIZE Plus   Neg

GTXI Q2 Loss Widens

GTX Inc. (GTXI) reported that its second-quarter net loss was $12.8 million or $0.20 per share, compared to a net loss of $10.4 million or $0.17 per share for the same period in 2012. Analysts polled by Thomson Reuters expected the company to report a loss of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

The company's net loss for the second quarter of 2012 was reduced by net income from discontinued operations of $848,000 related to sales of the commercial product FARESTON®, the rights for which the Company sold in the third quarter of 2012.

Research and development expenses for the quarter were $10.1 million compared to $9.2 million for the same period of 2012. General and administrative expenses for the quarter ended were $2.7 million compared to $2.4 million for the same period of 2012.

GTx said it is evaluating enobosarm (GTx-024) 3 mg, an oral selective androgen receptor modulator, for the prevention and treatment of muscle wasting in patients with advanced non-small cell lung cancer in two pivotal Phase 3 clinical trials. The last patients completed these clinical trials during May 2013.
Vital status (survival) of patients participating in the studies will continue to be periodically monitored in accordance with the clinical trial protocols.

The company anticipates providing the topline results for both studies later this quarter which will include the coprimary endpoints, safety assessments, and an update on survival.

GTx noted that it continues to enroll the Phase 2, open label clinical trial evaluating enobosarm 9 mg for the treatment of androgen receptor positive and estrogen receptor positive metastatic breast cancer in women who have previously responded to hormonal therapy for the treatment of their advanced breast cancer, which was initiated in the second quarter of 2013. Additionally, GTx continues the enrollment of the Phase 2 clinical trial evaluating Capesaris (GTx-758), an oral nonsteroidal selective estrogen receptor alpha agonist, for secondary hormonal therapy in men with castration resistant prostate cancer.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
TerraForm Global, Inc., an operator of clean energy power plants, said Monday that it has signed an exclusivity agreement with Brookfield Asset Management Inc. to negotiate a potential business combination between them. Shares of TerraForm Global are gaining more than 6 percent in pre-market activity following the announcement. Fast food giant McDonald's Corp. (MCD) on Monday reported a 1 percent decline in profit for the fourth quarter from last year on lower revenues due to the impact of refranchising. However, both revenue and earnings per share beat analysts' expectations. The Oak Brook, Illinois-based hamburger chain... U.S. authorities are investigating Yahoo Inc. for not disclosing the two massive data breaches sooner to investors, the Wall Street Journal reported, citing people familiar with the matter. It is expected that such a move could help clarify the timeline for companies to reveal such hacks.
comments powered by Disqus
Follow RTT