Conatus Pharmaceuticals Inc., a biotech focused on the development and commercialization of liver disease drugs, announced financial results Friday for the second quarter.
The San Diego-based company posted a net loss of $6.1 million for the quarter, compared with $5.3 million for the same period last year.
Research and development expenses were $4.1 million for the second quarter of 2015 compared with $3.5 million for the second quarter of 2014. The increases in R&D expenses were primarily due to an increase in external clinical trial costs associated with the company’s drug candidate emricasan and higher personnel costs, according to the financial statement.
Including $21.4 million of net proceeds from a public offering of common stock completed in April 2015, cash, cash equivalents and marketable securities were $48.1 million at June 30, 2015, compared with $37.1 million at December 31, 2014.
Conatus (Nasdaq: CNAT) is projecting a year-end 2015 balance of cash, cash equivalents and marketable securities in the mid-$20 million range.