Tranzyme Pharma (Nasdaq: TZYM) reported a 10-percent plus growth in revenue for its most recent quarter, but expenses surged far higher as the company continued clinical trials and pre-commercialization efforts for its product like.
Income grew to $2.6 million from $2.3 million primarily due to increased reimbursements from its drug development partner Bristol-Myers Squibb. The two firms recently extended their contractual relationship.
Research and development costs and general and administration expenses climbed to $8.7 million from $3.4 million a year earlier.
Read the financial report here.
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