Chelsea Therapeutics improves 3Q losses
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Local Tech Wire
CHARLOTTE, N.C. — Chelsea Therapeutics International, Ltd. (Nasdaq: CHTP) reported a third-quarter loss of $7.1 million, improving on the year-ago loss of $10.1 million for the same quarter.
In figures it released Monday, Chelsea said the loss translated to 22 cents per share, down from the year-ago loss of 34 cents. The 2008 loss reflected a problem with some investments, the company said, and the loss without that charge would have been 27 cents.
Chelsea Therapeutics is a biopharmaceutical development company that acquires and develops products to treat a variety of diseases. Its most advanced drug candidate, Droxidopa, is an orally active synthetic precursor of norepinephrine and is being developed for the treatment of neurogenic orthostatic hypotension.
Copyright 2012 WRAL Tech Wire. All rights reserved.
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