OvaScience Announces $3.1 Million Net Loss for Q3 2012

OvaScience Inc. (OTCBB:OVSC), a private company focused on discovering, developing and commercializing treatments for infertility, announced its results for the third quarter of 2012, commenting that it incurred a net loss of $3.1 million for the quarter. That’s compared to a $0.8-million loss during the year-ago quarter.

As quoted in the press release:

Research and development expense for the three months ended September 30, 2012 was $1.6 million, compared to $0.4 million for the same period in 2011.

General and administrative expense for the quarter ending September 30, 2012 was $1.5 million, as compared to $0.4 million for the same period in 2011.

The press release also notes that some of the company’s recent accomplishments include:

• Commenced trading of OvaScience’s common stock on the Over the Counter (OTC) Bulletin Board and the OTC Market Group’s OTC Link quotation system under the ticker symbol “OVSC.”
• Completed final process optimization for the identification and purification of egg precursor cells (EggPCSM) in preparation for the AUGMENTSM study. AUGMENT is designed to improve egg quality and increase the success of in vitro fertilization.

Click here to read the full OvaScience Inc. (OTCBB:OVSC) press release.