FIVE PRIME THERAPEUTICS INC (FPRX) saw its loss narrow to $19.41 million, or $0.72 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $23.97 million, or $0.93 a share. Revenue during the quarter grew 14.03 percent to $6.68 million from $5.86 million in the previous year period.
Operating loss for the quarter was $26.36 million, compared with an operating loss of $24.08 million in the previous year period.
"We have continued to make progress on all of our clinical and preclinical programs during the quarter," said Lewis T. "Rusty" Williams, M.D., Ph.D., president and chief executive officer of Five Prime. "We achieved an important milestone by advancing into the Phase 1b portion of our clinical trial evaluating the immunotherapy combination of cabiralizumab (FPA008) with nivolumab in multiple tumor types. We believe targeting both the CSF1R and PD-1 pathways has the potential to produce a synergistic therapeutic effect. Our Phase 1 trial evaluating FPA144 in patients with gastric cancer is also progressing well. We have added cohorts to enroll gastric cancer patients with tumors at varying levels of FGFR2b expression as well as a cohort to evaluate bladder tumors that overexpress FGFR2b. Additionally, we continue to advance our pre-clinical programs and have begun IND-enabling activities for three of our immuno-oncology therapeutic candidates."
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