Karo Bio's first-half 2008 loss improves 14%

Swedish drugmaker Karo Bio's net sales for the first six months of the year almost doubled to 7.2 million Swedish kronor versus 3.9 million kronor in the comparable period last year. Net loss totaled 101.8 million kronor, a 13.9% improvement, as loss per share amounted to 0.88 kronor vs 1.24 kronor.

During the period, a Phase IIb study of Karo's lead product candidate, eprotirome, an add-on to statin treatment, was successfully concluded. Data show that the agent was effective, safe and well tolerated at all three doses tested. An additional Phase IIb trial of eprotirome as an add-on to ezetimibe is progressing according to plan, the firm noted, adding that findings will be presented in the fourth quarter.