Business

Argos reports $17.5M first-quarter loss

Durham-based drug developer Argos Therapeutics on Thursday reported a widening first-quarter loss as the company intensified testing of its experimental drugs.

Argos is developing personalized immunotherapy treatments for cancer and HIV. The company is collaborating with researchers at UNC Chapel Hill on a federally-funded $6.6 million research project to eradicate AIDS.

Argos reported first-quarter income of $178,771, down from $798,788 for the same three-month period a year earlier.

The company’s net loss widened to $17.5 million from $10.8 million.

The 15-year-old company, which has no drugs on the market, employs 115 people locally. Argos was spun off from scientific research on RNA molecules conducted at Duke University.

Murawski: 919-829-8932

  Comments