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news.Celsion, an oncology company engaged in the development and commercialization of innovative cancer drugs, has reported net loss of $3.76m for the first quarter ended 31 March 2011, or $0.28 loss per diluted share, as compared to $6.15m or $0.5 loss per diluted share for the same period in 2010.
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The company’s loss from operations was $3.56m, compared to $4.57m for the same period last year.
Total operating expenses for the first quarter ended 31 March 2011 were $5.56m, as compared to $4.57m for the same period in 2010.
Additionally, the company’s HEAT study has received Fast Track Designation from the US Food and Drug Administrations (FDA) and Orphan Drug Designation in both the US and Europe.
Celsion president and CEO said with enrollment in their HEAT study nearing completion, they look forward to the key event in their clinical timeline, a pre-planned efficacy analysis mid-year, followed by the top-line results in 2012.