Bellus loss down after AD program dropped

Canada-based drugmaker Bellus Health, previously Neurochem, cut its loss by 24% year-on-year, for the first quarter of 2009, on the termination  of its Alzhemed (tramisprosate) program.

The firm generated revenue of $14,000, versus zero in the first quarter  of the year before. R&D costs were down 59% to $3.6 million, due to the  reduction in the Alzhemed program. The Bellus board made the decision   to terminate the development of the nutritional product, which was  targeted at the improvement of memory in Alzheimer's disease patients in  November 2007.

Cash down 70%, but financing ongoing