Chelsea Therapeutics improves 3Q losses
Chelsea Therapeutics
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CHARLOTTE, N.C. — Chelsea Therapeutics International, Ltd. (Nasdaq: CHTP) reported a third-quarter loss of $7.1 million, improving on the year-ago loss of $10.1 million for the same quarter.
In figures it released Monday, Chelsea said the loss translated to 22 cents per share, down from the year-ago loss of 34 cents. The 2008 loss reflected a problem with some investments, the company said, and the loss without that charge would have been 27 cents.
Chelsea Therapeutics is a biopharmaceutical development company that acquires and develops products to treat a variety of diseases. Its most advanced drug candidate, Droxidopa, is an orally active synthetic precursor of norepinephrine and is being developed for the treatment of neurogenic orthostatic hypotension.
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