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Aratana Therapeutics Reports Second Quarter 2013 Financial Results
Date:8/12/2013

KANSAS CITY, Kan. and BOSTON, Aug. 12, 2013 /PRNewswire/ -- Aratana Therapeutics, Inc. (NASDAQ: PETX) today announced its financial results for the second quarter of 2013, product development updates and the continued build-out of its pipeline.

For the quarter ended June 30, 2013, the Company reported a net loss of $4.2 million, or $(4.62) per share, compared with a net loss of $3.1 million, or $(10.21) per share for the quarter ended June 30, 2012. For the six months ended June 30, 2013, the Company reported a net loss of $8.3 million, or $(9.35) per share, compared with a net loss of $5.8 million, or $(19.15) per share for the six months ended June 30, 2012.

As of June 30, 2013, the Company had a total of approximately $20.2 million in cash, cash equivalents and marketable securities.
This number reflects the prepayment in June of $2.7 million of expenses related to the Company's initial public offering. In July, the Company completed the initial public offering which, together with the exercise of the underwriters' overallotment, provided $34.2 million in net proceeds. The Company's total cash and cash equivalents post-IPO was approximately $57.1 million.

"We are aggressively moving forward following our recent IPO with a sharp focus on our clinical programs and expanding our product pipeline," said Dr. Steven St. Peter, President and CEO of Aratana Therapeutics.  "We are pleased to share details on our progress and plans for the future."

Development Programs and Upcoming Milestones

  • AT-001 Dog: Completed enrollment in dose-ranging field study; results expected in November 2013; anticipate U.S. approval in 2016
  • AT-001 Cat: Anticipate initiating additional proof of concept study this month; results expected in November 2013
  • AT-002 Dog: Continuing discussion with the Center for Veterinary Medicine (CVM) to gain concur
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  • SOURCE Aratana Therapeutics, Inc.
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