BioBlast Pharma Q2 net loss was $3.69 millionStaff writer ▼ | August 22, 2015
BioBlast Pharma announced financial results for the second quarter ended June 30, 2015. Net loss for the second quarter of 2015 was $3.69 million.
BioBlast Pharma Research and development expenses were $2.14 million
The increase compared to the first quarter of 2015 was primarily due to a $0.37 million increase in clinical study and manufacturing expenses related to the Cabaletta platform, as well as an increase of $0.08 million in payroll expenses, offset by a $0.33 million decrease in pre-clinical study expenses related to SMA.
General and administrative (G&A) expenses for the second quarter of 2015 were $1.6 million, compared to $1.37 million in the first quarter of 2015 and $0.39 million in the second quarter of 2014.
he increase compared to the first quarter was primarily due to $0.16 million of professional services expenses related to U.S. operation and a $0.02 million increase in insurance and other office expenses.
Net loss for the second quarter of 2015 was $3.69 million, or $0.26 per share, compared to $3.3 million, or $0.23 per share, in the first quarter of 2015, and $1.11 million, or $0.10 per share, in the second quarter of 2014.
Cash and cash equivalents including short-term bank deposits totaled $26.2 million as of June 30, 2015, compared to $32.6 million on December 31, 2014, and $4.24 million on June 30, 2014. The decrease compared to December 31, 2014, reflects the cash used in operations during the period.
Shareholders' equity totaled $25.1 million as of June 30, 2015, compared to $30.7 million on December 31, 2014, and $3.8 million on June 30, 2014. ■