EpiCept Corporation, a specialty pharmaceutical company focused on cancer and pain treatment, has announced third quarter and year-to-date operating and financial results. Figures show a significant reduction in stated loss as the company continues its push to move products into the marketplace.
EpiCept showed a 19% improvement in third quarter figures, posting a net loss of $6.2 million compared to a net loss of $7.7 million for the same quarter last year. For the nine months ending September 30, the company posted a loss of $20.0 million, compared to $22.4 million for the same period last year, a 10% improvement.
EpiCept President and CEO, Jack Talley, commented on the company’s recent accomplishments and goals. “During the third quarter and subsequently, we were acutely focused on securing European regulatory approval for Ceplene®. We were delighted when our efforts proved to be successful with a final, favorable outcome announced last month. We have carefully controlled expenses this year in all areas of company operations.”
“Having secured European approval of Ceplene, the next key item has been advancing partnership dialogues for Ceplene marketing rights and preparing for a commercial launch as soon as possible in 2009. We have also continued our studies with NP-1, our neuropathic pain compound, which we expect to report top-line results by the first quarter of 2009 and the development of EPC2407, our vascular disruption agent for the treatment of cancer,” he continued.
EpiCept indicates that it currently possesses an approved cancer product and a deep and balanced pipeline of nine clinical product candidates, including:
• An oncology compound which has just received marketing authorization in Europe
• An oncology compound that is currently in Phase II trials for brain cancer and solid tumors
• An apoptosis inducer for solid vascularized tumors that is currently in Phase I clinical trials
• EpiCept NP-1, a pain medication that is currently in Phase IIb clinical trials
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