Biopharmaceutical company TFF Pharmaceuticals Inc (NASDAQ:TFFP) disclosed on Monday that it recorded a net loss of USD2.8m for the third quarter 2019.
This reflects a decline in earnings when compared with a net loss of USD585,215 for the comparable period in 2018.
Research and Development (R&D) expenses of USD2.6m were recorded for the third quarter of 2019, fromR&D of USD140,167 for the same period in 2018.
As of 30 September 2019, the company had cash and cash equivalents of USD10.6m.
According to the company, it has begun a Phase 1 clinical trial of its next-generation, direct-to-lung, inhaled dry powder version of Voriconazole for treating Invasive Pulmonary Aspergillosis (IPA). It has also closed its initial public offering of USD24m common stock at a public offering price of USD5.00 per share.
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