» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 129 | NO. 45 | Thursday, March 06, 2014

GTx Reports Net Loss, Improved Cash Position

By Don Wade

Print | Front Page | Email this story | Email reporter | Comments ()

Memphis-based GTx reported a net loss of $7.8 million for the quarter ended Dec. 31 and an annual net loss of $42.1 million for 2013.

That compares to net losses of $10.7 million for the last quarter of 2012 and a net loss of $27.1 million for all of 2012.

However, a recent stock sale will improve GTx’s cash position by about $21 million.

The company’s Capesaris drug, in development for prostate cancer treatment, is entering phase 2 of a clinical study.

GTx also has learned that Enobosarm, a drug being developed to treat muscle wasting, did not produce the necessary data in current trials that would enable the company to file a new drug application.

Dr. Mitchell Steiner, CEO of GTx, said in a conference call that while Enobosarm did not meet the statistical criteria required by the U.S. Food & Drug Administration, data from the studies “clearly showed that Enobosarm had a consistent positive effect on maintaining or improving lean body mass compared to placebo in both studies.”

The company is expected to continue development efforts.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 238 10,116
MORTGAGES 103 297 13,172
FORECLOSURE NOTICES 20 60 2,598
BUILDING PERMITS 192 562 24,086
BANKRUPTCIES 75 227 9,760
BUSINESS LICENSES 20 71 3,674
UTILITY CONNECTIONS 126 390 14,353
MARRIAGE LICENSES 15 68 3,131

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.