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Lorus Therapeutics Reports has Q3 Net Loss of $1.6 Million

From Canadian Press DataFile (April 12, 2011)

TORONTO _ Lorus Therapeutics Inc. (TSX:LOR) cited higher expenses, including research and development costs, for a wider loss in its fiscal 2011 third quarter.

The Toronto-based biopharmaceutical company said it lost $1.6 million or 10 cents per share in the three months ended Feb. 28.

That compared with a net loss of $1.3 million or 14 cents in the same 2010 period.

Besides increased research and development costs, Lorus also reported higher general and administrative expenses and stock-based compensation charges, offset slightly by lower depreciation and amortization of fixed assets.

The company reported no revenue for the three months ended Feb. 28, compared with $3,000 in the comparable 2010 quarter.


Posted: April 2011