NewLink Genetics reports net loss
NewLink Genetics Corp., an Ames-based biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, reported a net loss of $18.1 million, or $2.98 per share, for 2011 but painted an upbeat funding picture for the next two years. NewLink became a publicly traded stock company in November. “2011 was a pivotal year for NewLink,” said Dr. Charles Link, chairman and CEO. “By successfully completing our initial public offering and raising additional private money, we raised adequate capital to allow us to complete patient enrollment in our pivotal phase three pancreatic cancer clinical trial as well as advancing four other cancer immunotherapies.” The company expects to end 2012 with about $20 million in cash, cash equivalents and marketable securities, which Link said should allow it to fund its operations through 2013 based on its current operating plans.