Skip to main content
Premium Trial:

Request an Annual Quote

Marina Q3 Losses Rise Amid Costs of Restarting Operations

Premium

NEW YORK (GenomeWeb) – Marina Biotech today announced its third-quarter financial results, posting a surge in its net loss amid spending related to its resumption of operations.


For the three-month period ended Sept. 30, Marina's net loss was $7.1 million, up from $1 million in the year-ago period. The company attributed the rise to debt extinguishment accounting and increased expenses as it attempts to restart its operations.

In mid-2012, Marina was forced to shut down essentially all of its activities amid a severe cash crunch. Since then, however the company has been able to raise some cash and eliminate certain debt, and is slowly working to resume drug-development efforts.

Operating expenses in the third quarter rose to $170,000 from $100,000 a year earlier, while other expenses jumped to $5.5 million from $1.1 million.

The company reported no revenues in the third quarter.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.