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PLx Pharma Q2 Loss Top Estimates, But Revenues Miss; Stock Down 15%

PLx Pharma Inc. (PLXP) reported Friday a second-quarter net loss attributable to common shareholders of $11.56 million or $0.43 per share, narrower than $18.71 million or $0.79 per share in the prior-year quarter.

Excluding items, adjusted loss for the quarter were $0.52 per share, compared to adjusted loss of $0.27 per share in the year-ago quarter.

Total revenues for the quarter were $0.48 million, compared to nil in the same quarter last year.

On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.56 per share on revenues of $3.5 million for the quarter. Analysts' estimates typically exclude special items.

The company said it has recently engaged Raymond James & Associates, Inc. as financial advisor to commence a formal process to evaluate strategic alternatives to enhance stockholder value with the full support from the Board.

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