Reata Pharma Down 17% On Q2 Net Loss

Reata Pharmaceuticals, Inc. (RETA) shares are sliding on Tuesday morning trade after the company reported a second-quarter net loss.

The company posted net loss of $72.70 million or $2.00 per share for the second quarter, compared to net loss of $67.58 million or $2.03 per share in the prior year. On an adjusted basis, net loss was $1.32 per share.

Total collaboration revenue for the quarter was $2.22 million, down from $3.07 million a year ago.

The company said it plans to file NDA for Omaveloxolone in the first quarter of 2022. Further, the company completed enrollment in phase 2 trial of bardoxolone in patients with chronic kidney disease or CKD.

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