XenoPort Inc's net loss narrows to USD16.8m in Q3 

XenoPort Inc's net loss narrows to USD16.8m in Q3

Oct 25, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Biopharmaceutical company XenoPort Inc (nasdaqgs:XNPT) reported on Wednesday its net loss of USD16.8m for the third quarter ended 30 September 2012.

This marks an improvement in earnings when compared to a net loss of USD18.8m for the corresponding period in 2011.

Basic and diluted net loss per share were both USD0.41 in the third quarter of 2012, a decrease when compared to basic and diluted net loss per share of USD0.53 for the same period in the previous year.

Revenues for the third quarter were reported as USD0.4m, which is unchanged when compared to revenues of USD0.4m for the same period in 2011.

Research and development (R&D) expenses for the Q3 2012 were recorded as USD9.4m, down when compared toUSD11.5m for the same period in 2011 due to decrease in net costs for XP21279 and XP23829, personnel costs, non-cash stock-based compensation and office and facilities overhead costs, respectively.

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