07:53 AM EST, 11/14/2025 (MT Newswires) -- Satellos Bioscience ( MSCLF ) Friday said third-quarter net loss narrowed.

Net loss improved to US$5.8 million, or $0.03 per share, from a loss of $6.6 million, or $0.06 per share, for the prior year period. The result was inline with the $0.03 loss forecast by analysts, according to FactSet.

The decrease in net loss was mainly due to an impairment of $2.9 million to fully write down the remaining carrying value of an intangible asset, a statement said.

Satellos has also appointed Mark Nawacki, president and former chief executive of Searchlight Pharma, to its board. Nawacki's leadership experience will support Satellos as it advances its lead candidate SAT-3247 through clinical development.

The company has also completed an FDA submission to advance a Phase 2 clinical trial of SAT-3247 in children with Duchenne muscular dystrophy. It expects to enroll the first patient by the end of this year.