SAN DIEGO, Nov. 14, 2013 /PRNewswire/ -- Trovagene, Inc. (NASDAQ: TROV), a developer of cell-free molecular diagnostics, today reported financial results for the three months and the nine months ended September 30, 2013.
"We have made significant corporate and scientific achievements in recent months. We have signed multiple collaboration agreements and launched our first oncogene mutation detection test. In addition, the first series of clinical results were presented at a major medical conference. These data demonstrated the detection and monitoring of cancer mutations in urine with high rates of sensitivity," stated Antonius Schuh, Ph.D., chief executive officer of Trovagene. "Trovagene is well positioned to leverage its investment in its intellectual property, scientific research, and collaborations to build a better clinical pathway for cancer monitoring."
Third Quarter 2013 Financial Results
For the three months ended September 30, 2013, Trovagene reported a net loss available to common stockholders of $4.4 million, or $0.25 per share, as compared to a net loss available to common stockholders of $0.66 million, or $0.05 per share, for the three months ended September 30, 2012. The increase in net loss available to common stockholders was primarily due to an increase in total operating expenses of $1.87 million, or $0.10 per share, as well as an increase in the change in fair value of derivative instruments related to warrants of $1.71 million, $0.09 per share, during the third quarter of 2013, as compared to the prior year comparable period.
First Nine Months Financial Results
For the nine months ended September 30, 2013, Trovagene reported a net loss available to common stockholders of $10.8 million, or $0.66 per share, as compared to a net loss available
|SOURCE Trovagene, Inc.|
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