Aratana Therapeutics ($PETX), which is focused on the treatment of cancer in pets, reported second-quarter financials that showed the company continues to narrow its losses as it works on getting its pipeline products to market.
For the quarter ended June 30, Aratana reported a net loss of $8 million versus $9.2 million for the same period a year ago. Net loss per diluted share was 23 cents compared to 32 cents for the second quarter of 2014. Total revenues for the quarter were $230,000 against $300,000, the company said in a press release.
Still, the Kansas City-based company said it had a record $230,000 in net revenues of its AT-005 that is used to treat canine T-cell lymphoma. The drug is commercially available at about 70 sites through a T-cell Clinical Experience Program, or T-CEP.
"We continue to be on-track with our objective of having six products on the market in 2016 with a deep pipeline of additional therapeutics potentially coming to market behind those," Dr. Steven St. Peter, president and CEO of Aratana, said in a statement. "We are very excited about the outcomes we have achieved in our development programs."
In addition to AT-005, which is available on a limited basis under a conditional USDA license, Aratana was granted full approval by the regulatory agency in January for AT-004. That drug is used to treat canine B-cell lymphoma.
The company also continues to work on four other products in its pipeline through pivotal trials, including a drug to treat postoperative pain and an immunotherapy treatment for osteosarcoma in dogs. Aratana also has several treatments in its early-stage pipeline, including three that will address feline disorders.
- see the Aratana release