August 12, 2010 / 2:32 PM / in 7 years

UPDATE 1-Tekmira Pharmaceuticals Q2 loss widens

* Q2 loss C$4.2 mln vs C$2.3 mln

* Revenue slumps 40 pct

* Shares fall 7 pct

Aug 12 (Reuters) - Canada's Tekmira Pharmaceuticals Corp TKM.TO posted a wider loss hurt by increased spending at two of its programs, sending shares down as much as 7 percent.

Tekmira posted a loss of C$4.2 million, that compares to a loss of C$2.3 million.

Revenue from research and development collaborations, licensing fees and milestone payments was C$2.3 million, down from C$3.8 million.

Tekmira said it was completing toxicology studies in preparation for clinical development of TKM-ApoB, a treatment for high cholesterol, and TKM-PLK1, a treatment for solid tumor cancers, weighing down on its results.

Shares of the company were down 2 percent at C$1.70 Thursday morning on the Toronto Stock Exchange. They earlier touched a low of C$1.61. (Reporting by Isheeta Sanghi in Bangalore; Editing by Don Sebastian) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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