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PharmAthene reports increased loss

PharmAthene Inc., of Annapolis, which is developing medical countermeasures to chemical and biological warfare agents, saw its net loss grow despite an increase in revenue during the 12-month period of 2012, compared to the prior year.

PharmAthene reported a net loss of $4.9 million, or 10 cents per diluted share, versus $3.8 million, or 8 cents per diluted share, for the 2011 year. (The company did not report quarterly results.)

Revenue totaled $25.2 million versus $24.3 million in 2011. Officials said the increased loss was due to a change in the fair value of the company’s derivative instruments, which was partially offset by a decrease in operating expenses.