Recro Pharma, Inc. of Malvern says the clinical stage specialty pharmaceutical company is on track to report top-line data from a Phase IIb clinical trial of Dex-IN by the end of the year.

The non-opiod drug is being developed to treating pain – particularly acute pain following surgery.  Recro Pharma also reported financial results for the second quarter ended June 30.

“If approved, Dex-IN would be the first and only acute pain drug in its class and could provide an attractive, non-opioid, non-addictive alternative for patients experiencing acute pain following surgery,” said Gerri Henwood, president and CEO.

As of June 30, Recro Pharma had cash and cash equivalents of $27.8 million. Henwood believes current cash and cash equivalents are sufficient to fund operations through the end of 2015.  For the quarter the firm showed a net loss applicable to common shareholders of $2.8 million, or $0.36 per share, compared to a net loss of $0.8 million, or $4.97 per share, for the comparable period in 2013.

Research and development expenses for the quarter were $1.8 million, compared to $0.2 million for the same period in 2013. The increase was primarily due to the Phase IIb clinical trial, manufacturing expenses, preclinical studies and commencement of management salaries and benefits associated with becoming a public company. Research and development expenses for the six months ended June 30 were $2.1 million, compared to $0.4 million for the same period in 2013.

The full quarterly financial report is here.

Top photo credit: Alex E. Proimos via photopin cc