Galena Biopharma Loss Widens On Expenses

(RTTNews) - Galena Biopharma Inc. (GALE) Wednesday reported third-quarter net loss of $9.3 million or $0.11 per share compared with a net loss of $6.3 million or $0.09 per share last year.

On average, eight analysts polled by Thomson Reuters estimated a loss of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the quarter was $1.2 million, the first quarter of Abstral (fentanyl) sublingual tablet sales following its official launch in the fourth quarter.

Total expenses for the quarter were higher at $7.7 million, compared with $5.5 million in the prior year, due mainly to general and administrative overheads.