Adhera Therapeutics, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 24, 2021 at 12:26 am IST
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Adhera Therapeutics, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced operating loss was USD 129,000 compared to USD 356,000 a year ago. Net loss was USD 514,000 compared to USD 906,000 a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.12 a year ago. For the half year, operating loss was USD 239,000 compared to USD 1.679 million a year ago. Net loss was USD 942,000 compared to USD 2.744 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to USD 0.32 a year ago.
Adhera Therapeutics, Inc. is a specialty biotech company. The Company is focused on the drug development and commercialization of small molecule drugs to treat Parkinson's disease (PD) and Type 1 diabetes. The Company's advanced development programs are MLR-1019, a small molecule drug candidate being developed for PD, and MLR-1023, being developed to treat Type 1 diabetes. MLR-1019 is a highly selective dopamine re-uptake inhibitor for treating the dyskinesias associated with chronic dopamine precursor levodopa (L-DOPA) treatment in PD patients. MLR-1019 is a highly selective dopamine reuptake transporter (DAT) inhibitor used for the treatment of type 1 diabetes, non-alcoholic steatohepatitis, and pulmonary inflammation. It utilizes a virtual drug development model, where contract research organizations (CROs) are employed to undertake certain drug discovery and development services on the Companyâs behalf and under its direct supervision.