RESEARCH TRIANGLE PARK — G1 Therapeutics Inc. reported a fourth-quarter loss lower than Wall Street expectations according to a Securities and Exchange filing on Thursday.
The Durham-based biopharmaceutical company reported a net loss for the quarter was $24.1 million, or 65 cents per share, up from a loss of $17 million, or 60 cents per share in the fourth quarter of 2017.
Wall Street analysts were expecting a net loss of 58 cents per share.
Research and development for the quarter totaled $19.1 million, an increase over the $15.1 million the company spent in the same quarter in 2017.
G1 Therapeutics attributed the increase in cost to rising clinical costs, drug manufacturing expenses and costs to support clinical programs for its line of cancer treatment medications, trilaciclib, lerociclib and G1T48
“We made substantial progress across our three clinical-stage product candidates in 2018,” said CEO Mark Velleca in a statement. “We reported positive results from all four Phase 2 trilaciclib trials, presented proof-of-concept data on lerociclib in breast cancer, initiated a trial of lerociclib in non-small cell lung cancer, and brought our oral selective estrogen receptor degrader G1T48 into the clinic.”
G1 Therapeutics is clinical-stage biopharmacuetical company developing medications and therapies for those affected by cancer.
The company’s current line on cancer prevention medications are entering into second-stage clinical trials.
Its stock closed Thursday at $18.46, down 68 cents, or 3.5 percent.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
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