Zafgen Loss Widens; Stock Down 8%

(RTTNews) - Zafgen Inc (ZFGN), a biopharmaceutical company on Thursday reported fourth-quarter net loss of $10.9 million or $0.48 per share compared with a loss of $3.8 million or $5.35 per share last year.

Analysts polled by Thomson Reuters estimated a loss of $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Results reflect an increase in research and development expenses to $7.3 million from $2.5 million last year, and general expenses climbed to $3.3 million from $1.2 million.

As of December 2014, the company had cash and cash equivalents and marketable securities totaling $115.5 million.

Zafgen focuses on therapeutics for patients suffering from obesity and obesity-related disorders. The company's lead product candidate is Beloranib, a novel, first-in-class, twice-weekly subcutaneous injection being developed mainly for the treatment of severe obesity in two rare diseases, Prader-Willi syndrome, hypothalamic injury-associated obesity; and severe obesity.