ARCA Biopharma posts loss, has cash to continue operations through 2021
WESTMINSTER — ARCA Biopharma Inc. (Nasdaq: ABIO) “will need to raise additional capital and/or complete a partnership or other possible strategic transaction to fund future operations” and develop its leading drug candidate, according to the company’s second quarter 2020 earrings report filed this week.
The company, which is developing a drug known as AB201 that could potentially be used to treat COVID-19, posted a $1.3 million net loss in Q2 compared to a $1.4 million loss in the same period last year.
“ARCA believes that its current cash and cash equivalents, together with net proceeds of…
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