West Haven’s Nanoviricides, an R&D-stage biotech developing antiviral nanomedicines, said its net loss increased in its second fiscal quarter, as expenses and other costs rose.
The pre-revenue company lost $1.9 million, or 4 cents per diluted share, in the quarter ended Dec. 31, compared to $1.4 million, or 3 cents, in the same quarter a year ago.
Nanoviricides said it expects its accumulated deficit of nearly $53 million to continue to climb as it works to develop its products.
The company, which recently acquired its Shelton production facility, has $39.6 million, which it said is enough to fund operations through Dec. 31, 2016.
