NephroGenex reports $6.3 million net loss in 2013

03/31/2014 11:15 AM

03/31/2014 11:17 AM

NephroGenex, the Research Triangle Park drug developer that raised $37 million in an initial public offering of stock last month, reported a wider net loss last year.

The company had a net loss of $6.3 million, or $19.71 per share, compared to a net loss of $2.9 million, or $9.08 per share, in 2012. The loss included a change in value of preferred stock warrants, which totaled $3.4 million, or $10.68 per share.

NephroGenex is developing Pyridorin, an experimental treatment aimed at slowing the progression of a chronic, degenerative disease of the kidneys caused by diabetes called diabetic nephropathy. About 6 million people suffer from the disease, according to NephroGenex.

NephroGenex spent $1.5 million on research and development last year, down from $2.4 million in 2012.

The company’s shares have performed poorly since they began trading at $12. The stock closed Monday at $8.11, up 31 cents.

Join the Discussion

News & Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service