Tesaro Loss Wider Than Estimates

(RTTNews) - Tesaro Inc (TSRO), an oncology-focused biopharmaceutical company, on Thursday reported second-quarter net loss of $60.6 million or $1.51 per share compared with a loss of $37.1 million or $1.03 per share last year.

Analysts polled by Thomson Reuters estimated a loss of $1.14 per share for the quarter. Analysts' estimates typically exclude special items.

The company said its total expenses for the quarter increased to $56.7 million from $37.1 million last year, reflecting higher research and general costs.

As of June 30, Tesaro had about $354.4 million in cash and cash equivalents.