Neurochem's 4th-qtr 2006 loss widens 23.7%

Canadian drugmaker Neurochem reported a net loss of C$19.3 million ($16.6 million), C$0.50 per share, for the fourth quarter of 2006, compared to a loss of $15.6 million, C$0.42 per share, in the like, year-ago period, as R&D expenses increased 37.6% to C$16.1 million.

The firm's R&D hike was incurred in relation to the development of its lead product candidate, a potential treatment for Alzheimer's disease, Alzhemed (tramiprosate), and the cost of its ongoing Phase III clinical trial in Europe, as well as for the open-label extension of the North American Phase III study.

Neurochem's revenue from collaborations amounted to C$567,000 versus C$607,000, which it made from its accord with US drugmaker Centocor for Kiacta (eprodisate; formerly known as Fibrillex), an oral investigational product candidate for the treatment of amyloid A amyloidosis.