Expenses for third quarter of 2012 were $5.39m compared to $2.64m for the third quarter of 2011.
The company reported a net loss of $15.84m, or $0.10 per share, for the nine months ended 30 September 2012 compared to a net loss of $8.52m, or $0.07 per share, for the nine months ended 30 September 2011.
Expenses of $14.53m were reported for the first nine months of 2012 compared to $8.13m for the first nine months of 2011.
The company attributes increase in research and development expenses to the PRX302 clinical program, specifically the on-going transrectal study and clinical material manufacturing expenses.