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PharmAthene cuts loss in quarter

PharmAthene Inc., of Annapolis, a biodefense company developing medical countermeasures against biological and chemical threats, reported a net loss of about $439,000, or 1 cent per diluted share, for the second quarter, which ended June 30. For the same period last year, PharmAthene lost about $1.24 million, or 2 cents per share. Revenue was down to $3.7 million compared with $4.3 million in the prior-year period. The company cited reductions in its defense contracts for the revenue decrease, but that also led to a cut in research and development expenses, to $2.4 million from $3.4 million in the 2013 quarter.

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