KaloBios Pharmaceuticals Q2 Loss Widens

(RTTNews) - KaloBios Pharmaceuticals Inc. (KBIO) reported that its second-quarter net loss widened to $11.8 million or $0.49 per share from $2.1 million or $1.01 per share in the same period in 2012.

The company stated that increased spending for its clinical trial programs and general and administrative expenses associated with being a public company resulted in the wider loss during the second quarter of 2013 compared to the same period in 2012.

Contract revenue for the quarter slip to $15 thousand from $2.99 million last year.

As of June 30, 2013, cash, cash equivalents and investments, excluding restricted cash, totaled $63.7 million.