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Mast Therapeutics Reports Third Quarter Loss of $7.9 Million

Mast Therapeutics Inc., a pre-revenue, clinical-stage biopharmaceutical company in San Diego, reported a net loss of $7.9 million for the third quarter ending Sept. 30, 2014, compared to a net loss of $5.3 million for the same period in 2013.

Research and development expenses for the third quarter of 2014 were $5.4 million compared to $3.1 million for the same period last year. The company said the increase was primarily due to a $1.6 million increase in external clinical study fees and expenses, and a $400,000 increase in personnel costs.

As of Sept. 30, 2014, the company had cash, cash equivalents and investment securities totaling $43.1 million.

Mast (NYSE MKT: MSTX) is leveraging the Molecular Adhesion and Sealant Technology platform to develop a product candidate for serious or life-threatening diseases and conditions characterized by membrane dysfunction.

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