Ecopia ends quarter with C$4.5 million, continues development of anti-cancer compound

By Lisa Kerner

Charlotte, N.C., Oct. 10 - Ecopia BioSciences Inc. said for the third quarter ended Aug. 31, its had cash, bonds and tax credits receivable totaling C$4.5 million, down from C$10.3 million on Nov. 30, 2005.

The company reported a net loss of C$1.2 million for the quarter, compared to C$2.3 million in the third quarter of 2005.

Research and development expenditures were down 46.1% at C$1.1 million for the quarter from C$2 million in the prior-year period.

Ecopia decreased its general and administrative expenses by 33.4% for the third quarter to C$398,791 from C$599,213 in the third quarter of 2005.

The Montreal-based pharmaceutical company reported several clinical highlights for the quarter, including new data on the anti-cancer compound ECO-4601's mechanism of action, obtaining a U.S. patent on ECO-4601's composition of matter and the inclusion of pancreatic cancer patients in its ongoing phase 1 clinical trial.

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