Immunovaccine has reported a net loss of $1.7m for the third quarter ended 30 September 2012 compared to a net loss of $1.5m for the same quarter in 2011.
According to the company the increased loss is due to the $155,000 increase in general and administration expenses, a $33,000 increase in business development expenses and a $28,000 increase in research and development costs.
Immunovaccine CEO John Trizzino said the success of an effective therapeutic cancer vaccine will be based on a candidate that brings the right target, the right immune enhancement technology and the right therapy to the patient.
"The positive results from our DPX-Survivac Phase I trial validate this strategy by triggering a cancer fighting immune response in these ovarian cancer patients," Trizzino added
"The data reported from our work on a cocaine vaccine and our focus o-n malaria and RSV vaccine candidates along with the expectation that these will be in human clinical trials by 2014, reinforces the value of our DepoVax platform."