Arca trims losses, headcount as biotech firm continues exploring merger, sale

BOULDER — Arca Biopharma Inc. (Nasdaq: ABIO) posted lower year-over-year losses in the third quarter of 2022 as the company continues cost-cutting measures and explores its options for a strategic merger or sale. 

The company’s net loss for the quarter ended on Sept. 30, 2022, was $2.3 million, or 16 cents per basic and diluted share, compared to $4.7 million, or 33 cents per basic and diluted share in the third quarter of 2021.

Arca — which has two drugs in its pipeline: COVID-19 drug candidate rNAPc2 and Gencaro (bucindolol hydrochloride), a beta-blocker and mild vasodilator that could be a potential treatment…