Kindred Biosciences Loss Widens

(RTTNews) - Kindred Biosciences Inc (KIN), a development-stage biopharmaceutical company, on Friday reported first-quarter net loss of $6.7 million or $0.34 per share compared with a loss of $6.2 million or $0.38 per share.

Analysts polled by Thomson Reuters estimated a loss of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

The wider loss reflects higher research and general expenses, the company said.

Kindred said it continues to advance a diversified portfolio of validated molecules and has over 20 programs in development.

As of March 31, Kindred had $94.6 million in cash, cash equivalents and short term investments.