AEterna Zentaris' loss up 85% on R&D costs

Canadian drugmaker AEterna Zentaris' 2008 loss jumped 85% on decreased turnover and increased R&D expenses for its lead candidate cetrorelix.

The firm generated $38.5 million in revenue, down 8% due to the sale of  the leishmaniasis treatment Impavido (miltefosine) to Paladin Labs. R&D  costs were up 46% to $57.4 million on expenditure for the development of  cetrorelix in benign prostatic hyperplasia.

The company's net loss increased to $59.8 million, or $1.12 loss per  share, versus a loss of $32.3 million, or $0.61 loss per share. As of  December 31, 2008, the firm had $49.2 million in cash and cash  equivalents, vs $10.3 million at the same point of last year.