Bethesda-based Spherix cuts loss, but revenue slides

Spherix Inc., of Bethesda, a biopharmaceutical developer and provider of regulatory consulting services, reported it cut its net loss in 2011 to $3.5 million, or $1.32 per diluted share, from a net loss of $7.7 million, or $4.28 per diluted share, in 2010.

Revenue was $821,000 in 2011, versus $1.4 million in 2010.

The company did not provide quarterly data, and analysts did not review the company.

Spherix is currently engaged in development of a drug to treat high cholesterol, but it acknowledged that this is at an early stage.

It said it is actively seeking to acquire or license additional drugs.

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