GTx 3Q loss widens on higher costs

MEMPHIS, Tenn. (AP) — Biotechnology company GTx Inc. said Monday its third-quarter loss widened on higher costs and lower interest income.

The company lost $12.8 million, or 35 cents per share, compared with a loss of $11.9 million, or 33 cents per share, during the same period a year prior. Revenue rose to $3.6 million from $3 million on higher sales of the breast cancer treatment Fareston and collaboration revenue.

Analysts polled by Thomson Reuters expected a loss of 34 cents per share on revenue of $4 million.

Total costs and expenses rose 6 percent to $16.4 million. Interest income dropped to $29,000 from $568,000, offsetting revenue gains.

Shares GTx fell 11 cents, or 2.8 percent, to $3.76 in afternoon trading. The stock has traded between $3.55 and $18.75 over the last 52 weeks.