EpiCept 3Q Loss Narrows On Lower Costs

TARRYTOWN, N.Y. (AP) — Drug company EpiCept Corp. said Tuesday its third-quarter loss narrowed on lower selling, general, and administrative expenses.

The company lost $4.8 million, or 4 cents per share, compared with a loss of $6.2 million, or 9 cents per share, during the same period a year prior. Revenue rose 49 percent to $116,000 from $78,000.

Operating expenses fell 6 percent to $5.1 million, mainly from lower non-cash compensation, lender fees and legal fees. Also, the company gained $268,000 from foreign currency exchange rates.

EpiCept's lead product candidate is Ceplene, aimed at treatment and relapse prevention of adult patients with leukemia.

Shares of EpiCept fell 7 cents, or 8.5 percent, to 75 cents in afternoon trading. Shares have traded between 42 cents and $1.25 over the past 52 weeks.