R&D costs increase Altus' 3rd qtr loss 42%

Third quarter net losses at USA-based Altus Pharmaceuticals increased 41.9% to $22.5 million, as R&D expenditure rose 71.2% to $18.7 million. The higher expenses were associated with ongoing trials of Trizytek (porcine-free enzyme, formerly ALTU-135), the exocrine insufficiency drug for cystic fibrosis patients, total development of which the firm estimates will now cost around $157.5 million, an increase of 14.5% on previous forecasts.

The Massachusetts-headquartered company added that costs had also risen due to an acceleration in the development of ALTU-237, its kidney stone treatment candidate, which entered Phase I assessment in the period. Overall, the increased spending connected with both Trizytek and ALTU-237, resulted in negative quarterly revenue of $600,000.

Development spending could reach $55M