NeoTherapeutics Posts Smaller Loss for Quarter

Irvine biopharmaceutical company NeoTherapeutics Inc. narrowed its fourth-quarter loss to $9.7 million, or 48 cents a share, from $11.2 million, or 88 cents a share, a year ago. The development-stage firm posted revenue of $24,445, compared with no revenue a year earlier.

NeoTherapeutics said in a separate press release that its pre-clinical studies on two anti-psychotic drug candidates have shown positive effects in treating animal models of schizophrenia. NeoTherapeutics is seeking pharmaceutical partners to accelerate the further development.