Repros Therapeutics Inc. reported second quarter 2013 loss of 38 cents per share, wider than the year-ago loss of 21 cents per share. The higher loss was due to an increase in expenses related to Androxal, salary expense and costs related to patents.
The company’s revenue for the second quarter of 2013 was $0.1 million primarily consisting of interest income. Repros did not record any revenue in the year-ago period.
In the second quarter of 2013, general and administrative expenses increased 27% to $1.2 million due to higher professional service and travel expenses. Research and development expenses shot up 177% year over year to $6.0 million, reflecting higher pipeline investment.
Androxal, the most advanced pipeline candidate at Repros, is being evaluated for the treatment of secondary hypogonadism. The company is currently evaluating the phase III candidate in two pivotal studies conducted under the U.S. Food and Drug Administration’ s Special Protocol Assessment program.
Earlier this year, the company had announced encouraging top-line data from the first pivotal phase III study. The second pivotal phase III study is expected to be completed in the fourth quarter of 2013. The company plans to submit the marketing application for the candidate to the FDA by mid 2014.
Currently prescribed therapies for secondary hypogonadism include AbbVie Inc.’s (ABBV - Free Report) AndroGel.
Apart from Androxal, other pipeline candidates at Repros include Proellex. Proellex is being developed for uterine fibroids (phase IIb study expected to be initiated in the fourth quarter 2013) and endometriosis (phase II study expected to be completed in the second quarter 2014).
Repros currently carries a Zacks Rank #4 (Sell). We expect investor focus to remain on Androxal updates.
Currently, companies like Actelion Ltd. and Biogen Idec Inc. (BIIB - Free Report) look more attractive with a Zacks Rank #1 (Strong Buy).