Capstone Therapeutics Reports Q1, First Half Financials

Capstone Therapeutics reported a net loss of $3.1m, or $0.08 per share, for the second quarter of 2009, compared to a net loss of $2.8m or $0.07 per share for the second quarter of 2008.

The company incurred a net loss in the six months ended June 30, 2009 of $7.3m, as compared to a net loss of $5.4m in the same period of 2008. The $1.9m increase in net loss resulted primarily from an increase in AZX100 clinical trial activity, purchases of peptide for pre-clinical studies, and reduced interest income due to the decrease in interest rates earned on investments between the two periods and reduction in the amount available for investment.

Capstone Therapeutics is engaged in the development of a pipeline of novel therapeutic peptides aimed at helping patients with under-served medical conditions. The company is focused on development and commercialization of two product platforms – AZX100 and Chrysalin (rusalatide acetate or TP508).