Cancer drug company DARA BioSciences reported a larger net loss last year as it ramped up sales and marketing efforts to support the Raleigh company's products.
DARA reported a net loss of $7.3 million, or 60 cents per share, compared to a net loss of $6.17 million, or $1.20 per share, in 2011.
As of the end of the year, DARA had cash and cash equivalents of nearly $6.5 million.
DARA raised about $2.5 million from private investors over the first three months of the year, money that the company expects to see it through 2013.
In June, DARA launched its first product, Bionect, a treatment for skin irritation and burns arising from radiation therapy. It followed up with the October launch of Soltamox, its liquid version of the popular breast cancer drug tamoxifen.