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Ventrus Biosciences Inc announces higher operating loss of USD7.48m for Q2 2012.

M2 EQUITYBITES-August 10, 2012-Ventrus Biosciences Inc announces higher operating loss of USD7.48m for Q2 2012(C)2012 M2 COMMUNICATIONS

Pharmaceutical company Ventrus Biosciences Inc (NasdaqCM:VTUS) stated on Thursday its operating loss of USD7.48m, for the Q2 ended 30 June 2012.

This is compared with USD6.90m of operating loss for the three months ended 30 June 2011.

Research and development (R&D) expense was recorded as USD6.16m for the second quarter of 2012, an improvement when compared to R&D of USD3.099m for the same period in 2011.

The company said that the increase in R&D was due to the costs associated with the Phase 3 clinical trial for VEN 309 programme and manufacturing costs to support future clinical studies for VEN 307.

Cash and cash equivalents were about USD29m as of 30 June 2012, down when compared to cash and cash equivalents of approximately USD37m at 31 December 2011.

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Publication:M2 EquityBites (EQB)
Article Type:Financial report
Date:Aug 10, 2012
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