Higher operating expenses resulted in a greater net loss for radiopharmaceutical developer Molecular Insight Pharmaceuticals of Cambridge, MA, in its second quarter (end-June 30).
The company reported a net loss of $17.3 million, compared with a net loss of $16.6 million in the second quarter of 2009. The increase was due to a gain in operating expenses of $600,000 and other expenses of $300,000, which was offset partially by grant revenues of $200,000.
For the six-month period, Molecular Insight reported a net loss of $34.8 million, compared with a net loss of $31.9 million in the first six months of 2009. The increase in net loss again was attributable to a gain in operating expenses of $300,000 and other expenses of $400,000, which was offset, in part, by an increase in grant revenues of $500,000.
Six-month operating expenses also increased 14%, primarily due to greater research and development expenses of $1.1 million and general and administrative expenses of $1.8 million.
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Molecular Insight reports lower net loss, November 10, 2009
Molecular Insight reduces net loss, August 13, 2009
Molecular Insight lowers loss in Q1, May 12, 2009
Molecular Insight sees some gains in Q4, March 18, 2009
Molecular Insight shuffles management, February 2, 2009
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