Canada's Lorus Therapeutics increases losses
Canadian biopharmaceutical firm Lorus Therapeutics incurred a loss ofC$15.2 million ($9.2 million), or C$0.11 per share, for the fiscal year ended May 31, compared with C$8.6 million for the like, year-earlier period.
R&D expenses for the current year increased from C$4.2 million to C$9.8 million, due mainly to the cost of: the GTI-2040 Phase II antisense drug development programs; manufacturing, regulatory and trial preparation costs for the Virulizin Phase III clinical trial for the treatment of pancreatic cancer patients; and Phase I clinical trials of GTI-2501 in renal and colorectal cancers.
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