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iCo Therapeutics reports $0.02 loss per share in Q2 financial results

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Second-quarter results released by iCo Therapeutics included a total comprehensive loss of $1,617,040, or a $0.02 loss per share, compared with a total comprehensive loss of $2,886,831, or a $0.05 loss per share, for Q2 of last year.

These financial results represent a decrease of $1,269,791 in comprehensive loss, according to a company press release.

Investments in Immune Pharmaceuticals had a primary impact on the decrease in net comprehensive loss, with a $259,755 increase in the carrying value; a decrease in expenses associated with the iDEAL trial added to the decrease in net comprehensive loss, according to the release.

Research and development expenses decreased by $1,163,543, at $1,026,287 in Q2 this year compared with $2,189,830 during the same period last year.

Administrative expenses also decreased by $231,106 as a result of reduced stock-based compensation expenses and professional fees, according to the press release.