* Q1 loss/shr C$0.13 vs yr-ago loss/shr C$0.25
* Revenue at C$2.5 million
* Says has resources for expenditures till Q1 2012
May 10 (Reuters) - Canadian biopharmaceutical company Transition Therapeutics Inc TTH.TO TTHI.N posted a narrower quarterly loss, and said it has adequate financial resources for expected expenditures till the beginning of the first quarter of fiscal 2012.
For the third quarter, the company posted a loss of C$3.1 million or 13 Canadian cents a share, compared with C$5.7 million, or 25 Canadian cents a share, a year ago.
The company posted revenue of C$2.5 million.
Analysts on average were expecting a loss of 11.5 Canadian cents a share, on revenue of C$1.6 million, according to Thomson Reuters I/B/E/S.
The fall in research and development expenses, and general and administrative expenses was offset by a foreign exchange loss of C$150,569, compared with a gain, last year.
Shares of the Toronto-based company closed at C$3.85 Monday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Jarshad Kakkrakandy)