Tekmira Pharmaceuticals (TSX:TKM) recorded a $0.4 million loss for its current first quarter. The Burnaby company had a net income of $.07 million for the same quarter last year.
Tekmira's first-quarter revenue was $1.9 million compared with $2.9 million for 2007's first quarter.
The company also reported that it's on track to complete its business merger with Protiva Biotherapeutics Inc. by the end of May. The deal will also see Alnylam Pharmaceuticals Inc. and Roche Finance invest $5 million in Tekmira.
The biopharmaceutical company is developing and commercializing drugs to treat cancer and other diseases.
Tekima's share price range during the past week: between $1.21 and $1.24; 52-week high $1.99; 52-week low: $0.65.