RESEARCH TRIANGLE PARK, N.C. … Incara Pharmaceuticals (Nasdaq: INCR) has expanded its Phase II/III clinical trial of deligoparin, an ultra-low molecular weight heparin for the treatment of ulcerative colitis.
The company also announced that it lost $3 million, or 23 cents a share, during its second quarter, ended March 31. That compares with a $14.6 million during the same period a year ago. For the first six months of fiscal 2002, Incara lost $6.1 million, or 48 cents a share, compared with a $16.3 million loss for the same period a year ago.
The results from last year include a $12.2 million loss in a joint venture between Incara and Irish drug company Elan that was created to develop deligoparin.
Incara has enrolled 126 patients in the deligoparin trial and has added three clinical sites, bringing the number of active sites in the trial to 33.
“While we and the biotech industry have been frustrated by a tough financial environment recently, we are actively pursuing additional financing,” Incara President and Chief Executive Clayton I. Duncan said in a statement. “Assuming adequate financial resources, we expect to complete enrollment by year end in the Phase II/III clinical trial for deligoparin, and we are now poised to demonstrate the clinical value of our research efforts in liver cell therapy.”
Incara website: www.incara.com
