Tustin-based Peregrine Pharmaceuticals Inc. said Friday that higher research and staffing costs led to a larger loss in the quarter ended Oct. 31.
Peregrine, which is developing drugs to treat early-stage hepatitis C and cancer, said it posted a loss of $4.6 million in the quarter, compared to $3.7 million a year ago.
Revenue totaled $556,000 in the period, compared to $2.2 million a year ago.
The drug maker said it was doing less contract manufacturing work, focusing instead on developing its own treatments.
Peregrine’s research and development expenses rose to $3.2 million in the period, compared to $240,000 a year ago, while its selling, general and administrative costs totaled $1.6 million, compared to $233,000 a year ago.
Overall, Peregrine said its costs and expenses decreased $643,000 in the quarter, primarily reflecting a decrease in sales costs at Avid Biosciences, its contract manufacturing arm.
