Techniclone Posts $1.5-Million Net Loss

TUSTIN — Biotechnology company Techniclone Corp. reported a net loss of $1.5 million, or 7 cents a share, for the fiscal second quarter ended Oct. 31, compared with a net loss of $539,021, or 3 cents a share, a year ago. The company said it lost $2.5 million, or 12 cents a share, for the first six months, compared with a net loss of $1.1 million, or 6 cents a share, for the first half last year. No sales figures were reported.

The company attributed the higher losses to increased research and development costs, as well as additional personnel expenses and expanded public relations activities.