GlobeImmune reports net loss

LOUISVILLE – GlobeImmune Inc. (Nasdaq: GBIM) on Friday released its first quarterly earnings report since its initial public offering last month, posting a net loss of $9.2 million for the three months ending June 30, well above the net loss of $2.1 million recorded for the same period last year.
The Louisville-based drug maker earned revenue of $1.7 million for the period, down from the $4.2 million it earned during the same time last year.

“We anticipate that operating losses will occur and substantially increase over the next several years as we expand discovery, research and development activities, including clinical development of our Tarmogen product candidates,” the company wrote in its earnings report.

In July, GlobeImmune – which is developing therapeutic drugs for pancreatic cancer and hepatitis B and C – went public, pricing its shares at $10 apiece and raising $17.3 million in gross proceeds.

The company’s shares have steadily declined since hitting a high point of $14.79 on July 11. They were trading at $8.62 by mid-afternoon Friday, down 7 percent from the previous day’s close.

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