Liponex R&D costs result in losses

Liponex Inc. suffers wider net losses in Q1, as it continues to shell out on R&D for its product CRD5, a “good-cholesterol” drug meant to treat heart disease. As research and development increased to $645,893 from $416,412, losses were $915,509 ($0.4 a share), 30% more than those in the same period last year. “We believe that the encouraging efficacy trends from our recently completed Phase I/II clinical trial, taken together with previous Phase I human data and the cell culture experiments showing the mechanism of action, support the view that CRD5 can be an effective therapeutic to raise plasma HDL levels,” says Bill Dickie. The biopharmaceutical company’s CEO also says the company main short-term goal is to develop a coating to reduce CRD5’s sensitivity to stomach acid, thereby boosting the drug’s efficacy.

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