Adhera Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 21, 2023 at 03:22 am IST
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Adhera Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 3.54 million compared to USD 1.8 million a year ago. Basic loss per share from continuing operations was USD 0.83 compared to USD 0.57 a year ago. Diluted loss per share from continuing operations was USD 0.83 compared to USD 0.57 a year ago.
For the nine months, net loss was USD 4.15 million compared to USD 1.78 million a year ago. Basic loss per share from continuing operations was USD 1.16 compared to USD 1.17 a year ago. Diluted loss per share from continuing operations was USD 1.16 compared to USD 1.17 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.