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Tekmira Q2 Losses Up on Lower Revenues, Higher Expenses

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Tekmira Pharmaceuticals this week reported a jump in its second-quarter net loss as revenues shrank and expenses increased.

For the three-month period ended June 30, Tekmira's net loss rose to $4.2 million from $2.3 million in the same period a year earlier.

Contributing to the higher loss was a decline in revenues to $2.3 million from $3.8 million, which the company attributed to fluctuations in demand for its manufacturing services and the timing of milestone payments from collaborators.

Research, development, and collaboration spending increased in the quarter to $4.8 million from $4.4 million, reflecting the costs associated with preparations for clinical testing of two of Tekmira's drug candidates, the hypercholesterolemia treatment TKM-ApoB (formerly ApoB SNALP) and TKM-PLK1 (formerly PLK1 SNALP).

General and administrative costs were flat at $1.1 million.

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