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VOL. 132 | NO. 54 | Thursday, March 16, 2017

Net Loss Widens for GTx in Fourth Quarter

The Daily News

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GTx Inc. reported a fourth-quarter loss of $6.9 million, or 44 cents per share, more than twice the loss of $3.2 million from the same period in 2015.

For the year, the Memphis-based pharmaceutical company reported a net loss of $17.7 million, or $1.22 per share, down from an $18.7 million loss for all of 2015.

Research and development expenses for the quarter grew to $4.6 million, compared to $3.9 million in the fourth quarter of 2015. Similarly, full-year expenses for research and development were $17.2 million, up 26 percent from $13.6 million the previous year.

General and administrative expenses rose 9 percent to $2.3 million year-over-year in the fourth quarter, and rose by 6 percent for the full year to $8.7 million.

GTx has two clinical trials working to bring enobosarm to market as a treatment for women with advanced breast cancer, and another clinical trial with enobosarm as a potential treatment for stress urinary incontinence in postmenopausal women.

One of the enobosarm cancer trials is in Stage 2 and performing well, according to a company release. The other cancer trial could move to Stage 2 in the second quarter of 2017 if the clinical data warrants continuing to enroll patients.

Top-line results for the proof-of-concept clinical trial of enobosarm for incontinence are expected in the third quarter of 2017.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 405 17,384
MORTGAGES 88 428 20,035
FORECLOSURE NOTICES 8 56 2,645
BUILDING PERMITS 230 853 35,946
BANKRUPTCIES 55 274 11,164
BUSINESS LICENSES 22 117 5,709
UTILITY CONNECTIONS 26 101 6,715
MARRIAGE LICENSES 36 134 3,916