NewLink Genetics Corp. (NLNK) reported that its first-quarter of 2013 net loss widened to $7.9 million or $0.33 per share from $4.8 million or $0.23 per share in the first quarter of 2012.
Total grant revenues for the first quarter 2013 were $302,000 compared with $471,000 for the first quarter 2012.
Research and development expense for the first quarter 2013 was $6.3 million compared with $3.8 million for the first quarter 2012. The $2.5 million increase was primarily due to increased manufacturing and clinical trial expense from the same period in 2012.
General and administrative expense for the first quarter 2013 was $2.0 million compared with $1.5 million for the first quarter 2012. This increase was primarily due to increases in personnel related expenses.
The company said it expects to end 2013 with about $40 million in cash, cash equivalents and marketable securities.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.28 per share on revenues of $0.4 million for the quarter. Analysts' estimates typically exclude special items.
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