Adherex Technologies' 2006 loss stays flat as work continues on cancer drug development

Biopharmaceutical company Adherex Technologies Inc. said Monday its 2006 loss remained flat as the company continues to develop cancer treatments.

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The company lost $19.1 million, or 40 cents per share, compared with a loss of $19.2 million, or 49 cents per share, in 2005. Adherex did not have revenue for the year. Also, in 2006 the company had about 8.4 million additional shares of common stock outstanding.

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Operating expenses rose to $19.1 million from $18.3 million, primarily on increased clinical activity for eniluracil and ADH-1, Adherex said in a statement.

Shares of Adherex fell 2 cents, or 4 percent, to 48 cents on the American Stock Exchange.