On August 4, 2015 OXiGENE, Inc. (Nasdaq:OXGN), a biopharmaceutical company developing novel therapies for treatment of cancer, reported financial results for the quarter ended June 30, 2015 (Press release, OXiGENE, AUG 4, 2015, View Source [SID:1234507006]).

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For the second quarter of 2015, OXiGENE reported a net loss of $3.3 million compared to a net loss of $3.9 million for the comparable period in 2014. R&D expenses during the second quarter of 2015 were $2.0 million compared to $2.2 million in the second quarter of 2014. General and administrative expenses during the second quarter of 2015 were $1.3 million compared to $1.8 million in the second quarter of 2014.

At June 30, 2015, OXiGENE had cash of $33.1million, compared to $30.0 million at December 31, 2014.

"I believe we have multiple opportunities to leverage our investigational products’ unique and demonstrated ability to block blood flow to various cancer tumors, particularly in combination with other antivascular therapies. As I mentioned last quarter, before the end of the year I look forward to presenting a clear development path for our future that we believe will optimize our pipeline assets," said William D. Schwieterman, M.D., OXiGENE’s President and CEO.

OXiGENE also noted that it anticipates several upcoming regulatory and clinical milestones before the end of 2015. The company expects to submit a Special Protocol Assessment to the U.S. Food and Drug Administration for the potential Phase 3 study of fosbretabulin in combination with bevacizumab in platinum resistant ovarian cancer. The company plans to present results of the dose-ranging portion of the Phase 1 study of fosbretabulin in combination with pazopanib in ovarian cancer. Initial results from the ongoing Phase 1 trial in gastrointestinal neuroendocrine tumors (GI-NETs) are also scheduled to be announced. In addition, the company is on track to initiate a Phase 1 / 2 study of OXi4503 in acute myeloid leukemia (AML).