Sophiris Bio Inc. announced unaudited consolidated financial results for the three months ended March 31, 2015. The Company reported a net loss of $4.3 million or $0.26 per share for the three months ended March 31, 2015 compared to a net loss of $8.5 million or $0.52 per share for the three months ended March 31, 2014. Research and development expenses were $3.1 million for the three months ended March 31, 2015 compared to $6.8 million for the three months ended March 31, 2014.

The decrease in research and development costs are attributable to a decrease in the costs associated with the Company's Phase 3 PLUS- 1 clinical trial of PRX302 and costs associated with the manufacturing activities for PRX302. This decrease is offset by an increase in start-up costs associated with the Company's Phase 2a proof of concept trial for localized low to intermediate risk prostate cancer.