Adherex Technologies, a biopharmaceutical firm focused on oncology products, cut its losses in the second quarter more than 25 percent, the company said Thursday.

Adherex (AMEX: ADH) said it lost $3.2 million, or 3 cents a share, compared with $3.9 million, or 8 cents a share, one year ago. The company cut expenses to $3.4 million from $4 million in the second quarter last year.

Adherex did report an increase in cash and cash equivalents to $20.7 million, having raised $23.2 million in a stock placement in February,