Algeta's 2nd-qtr deepens loss
Norwegian company Algeta's net loss increased during the second quarter of 2008, due to expenses involved in moving the firm's Alpharadin (radium-223) into Phase III.
The firm's net loss increased to 53.0 million kroner ($9.9 million) versus 16.0 million kroner in the same period of the 2007. Expenses rose to 56.0 million kroner from 19.0 million kroner and cash flow from operations was 45.0 million kroner up from 24.0 million kroner.
Enrollment for the pivotal Phase III ALSYMPCA trial on Alpharadin for advanced hormone-refactory prostate cancer that has metastasized to the skeleton has already begun. The trial is expected to recruit 750 patients at 125 facilities in Europe, Asia, South America and Canada.
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