Allon Therapeutics, Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
August 07, 2012 at 06:49 pm EDT
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Allon Therapeutics, Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported net loss of CAD 3,243,214 or CAD 0.03 per share compared to a net loss of CAD 2,919,833 or CAD 0.04 per share for the three months ended June 30, 2011, representing an increase in net loss of CAD 323,381. The company earned interest revenue of CAD 1,479 during the quarter compared to CAD 1,489 for the same period in 2011.
For the six months, the company reported a net loss of CAD 6,021,918 or CAD 0.06 per share compared to a net loss of CAD 5,893,909 or CAD 0.08 per share for the six months ended June 30, 2011. The company earned interest revenue of CAD 1,521 during the quarter compared to CAD 6,390 for the same period in 2011.
Allon Therapeutics, Inc. is a Canada-based Company, which develops treatments for neurodegenerative diseases. The Company is engaged in pre-clinical and clinical development of proprietary neuroprotective compounds which may be applied for the potential treatment of Alzheimer's Disease, Parkinson's Disease, senile dementia, glaucoma, traumatic head injury, neuronal damage due to stroke and other conditions involving neurodegeneration. The Company's drug, davunetide, is proceeding in a pivotal Phase 2/3 clinical trial in an orphan indication, progressive supranuclear palsy (PSP), under a Special Protocol Assessment (SPA) with the Food and Drug Administration (FDA).
ALLON THERAPEUTICS INC. 
