August 4, 2016
Spring Bank Pharma pushes trials through amid Q2 losses
Courtesy
Hopkinton’s Spring Bank Pharmaceuticals continues to set its sights on completing the second phase of human trials for its hepatitis medicine as the company reported $4.3 million in losses in the second quarter on Thursday.
The company’s financials represented mounting losses, up from $2.3 million for the second quarter of 2015, as it continues to push its lead compound, SB 9200, through phase 2a clinical trials. Company President and CEO Martin Driscoll said with a strengthened balance sheet from the company’s $11.3-million initial public offering, the company plans to report data on the results in the first half of 2017.
At the end of the quarter, Spring Bank had $19.6 million in cash, cash equivalents and marketable securities.
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