Pharmaxis FY loss increases

Pharmaceutical company posts a higher loss on increased operating expenses.

Pharmaceutical company Pharmaxis (PXS) has implemented a cost saving program as its losses grew in fiscal 2013 due to an increase in operating expenses.

In a preliminary final report, the group posted a loss of $43.537 million in fiscal 2013, 13% more than the $38.644 million loss the previous year.

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