San Diego-based Mast Therapeutics Inc. (NYSE: MSTX) reported a second quarter net loss of $7.2 million, or $0.06 per share, compared to a net loss of $4.9 million, or $0.09 per share, for the same period in 2013.
The company also reported a net loss for the six months ending June 30, 2014 of $13.5 million, or $0.12 per share, compared to a net loss of $10.5 million, or $0.21 per share, for the same period in 2013.
The company had cash, cash equivalents and investment securities totaling $46.4 million as of June 30. Stockholders' equity amounted to $50.2 million as of June 30.
“This is an important time for Mast,” said Brian M. Culley, the company’s CEO. “We have an ongoing Phase 3 study in a rare disease with more than an 18-month head start on our nearest competitor.”
The company also has a Phase 2 study planned in heart failure and has funds to move these and our other programs toward major value inflection points, according to Culley.
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