With COVID-19 trials underway, Acra Biopharma says its cash will last through 2022
WESTMINSTER — Arca Biopharma Inc. (Nasdaq: ABIO) reported growing losses in the third quarter of 2021, but with trials underway for its COVID-19 treatment candidate the company says it has cash to continue operations through next year.
The company, which does not yet have any revenue, saw research and development costs jump from $1.1 million in the third quarter to 2020 to $3.4 million during the most recent period, primarily due to the initiation of clinical trials for drug candidate rNAPc2.
The U.S. Food and Drug Administration this year designated the investigation of rNAPc2 as a potential COVID-19 treatment as a Fast…
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