Aadi Bioscience, Inc. (AADI) Wednesday reported loss for the third quarter on higher expenses, wider than the prior year. However, on a per-share basis, loss was narrower than the prior year. Revenues for the quarter improved from the previous year.
Further, the company focused on precision therapies for genetically defined cancers with alterations in mTOR pathway genes, said it expects to present an early interim analysis of PRECISION 1 trial of nab-sirolimus in solid tumors with TSC1 or TSC2 inactivating alterations by mid-December.
The quarterly loss was $16.302 million, compared to loss of $14.474 million last year. On a per-share basis, loss narrowed to $0.60 from $0.68 a year ago.
On average, 5 analysts polled by Thomson Reuters expected the company to report loss of $0.72 per share. Analysts estimates usually exclude special items.
Revenue for the quarter increased to $5.96 million from $4.25 million a year ago. Analysts were looking for $6.61 million.
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