Reduced operating expenses helped radiopharmaceutical developer Molecular Insight Pharmaceuticals of Cambridge, MA, improve its net loss in the third quarter (end-September 30).
The company reported a net loss of $21.4 million, compared with a net loss of $24.7 million in the third quarter of 2008. Third-quarter operating expenses of $16.4 million declined by 17% percent, or $3.4 million, from the prior year's third quarter, due to a decrease in R&D expenses of $2.9 million and in general and administrative expenses of $500,000.
For the nine-month period, the company had a net loss of $53.3 million, compared with a net loss of $65.4 million in the first nine months of 2008. Operating expenses fell 25%, or $12.9 million, from the year-ago period, due to a decline R&D expenses of $9.9 million and in general and administrative expenses of $3 million.
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Molecular Insight reduces net loss, August 13, 2009
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Molecular Insight sees some gains in Q4, March 18, 2009
Molecular Insight shuffles management, February 2, 2009
Molecular Insight completes phase II trial for Zemiva, December 23, 2008
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