OXiGENE loss in 4th qtr of 2005 widens 54%

OXiGENE, an emerging US pharmaceutical company developing novel small-molecule therapeutics to treat cancer and eye diseases, says that in fourth-quarter 2005 its net loss was $3.4 million, or $0.16 per share, a 54.5% decline on the like, year-ago period. For full-year 2005, net loss totaled $11.9 million, or $0.61 per share, versus $10.0 million, or $0.61 per share, in 2004, repectively.

Key 2005 highlight

Summarizing the firm's development activity, its chief executive, Frederick Driscoll, noted that, based on safety and patient response data in 2005, its lead compound, combretastatin A4P (CA4P), will enter trials in non-small cell lung cancer and platinum-resistant ovarian cancer. He added that the firm has enough cash to advance a Phase Ib study of a CA4P combination against solid tumors, a Phase I trial with its second candidate for oncology, OXi4503, as well as clinical programs in the area of ophthalmology.