SEEL - Reata Slips On Update And Other News: The Good Bad And Ugly Of Biopharma
Reata Slips on operational updates including omaveloxolone setback
Reata Pharmaceuticals Inc. (RETA) announced its second quarter financial numbers and provided an update for its business operations. However, the markets reacted negatively to the news, leading the company stock to plunge.
Reata reported its collaboration revenue for the quarter at $3.1 million, down from $7.8 million it had reported for the corresponding quarter of the previous year. The figure for the current year included $1.9 million in reimbursements of expenses from KKC and $1.2 million from the KKC license agreement.
The company’s research and