Drug developer GT Biopharma gains as cost cuts help narrow losses

GT Biopharma

16/05/2022 15:48

** Shares of drug developer  GTBP.O  up 5.2% at $2.03
    ** Co reports Q1 net loss per share of $0.17, compared to
$1.83 last year
    ** Smaller losses owed to reduced expenses, GTBP reports,
especially as it paid out lower amounts in stock compensation to
employees
    ** GTBP focuses on developing therapies for cancer, and says
its cash and other investments can help it finance operations
into 2023
    ** YTD, shares down 36.4% as of last close

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))