March 17, 2008
Vion Pharma losses increase
New Haven-based Vion Pharmaceuticals, a developer of cancer drugs, reported a net loss of $8.2 million in the fourth quarter of 2007, up from a $6.1 million net loss for the same period in 2006.
The company also reported a year-end loss of $33.9 million in 2007, an increase from $25.3 million the year before. Vion reported ending the year with $61.1 million in cash and cash equivalents.
Alan Kessman, CEO of Vion, said in a statement, "Based on our current operating plan, we are funded through the third quarter of 2009. We continue to make progress on preparing a new drug application for our lead anticancer agent Cloretazine for filing with the U.S. Food and Drug Administration in 2008."
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