Biotech company Spectrum Pharmaceuticals reported a net loss of $7.4 million, or 30 cents a share, in its third quarter, down from a net loss of $5.2 million, or 32 cents a share, in the year-ago period, the company said Friday.

Spectrum reported $92,000 in revenue in the quarter, down from $184,000 in the year-ago period. Research and development expenses were $5.8 million, up from $3.3 million in the year-ago period, due to the expanded scope of Spectrum's research and development activities.

The company reported positive results in a Phase 3 trial of satraplatin as a second line treatment for hormone refractory prostate cancer, and began a Phase 2 trial of satraplatin in combination with Tarceva in patients suffering from inoperable, advanced non-small cell lung cancer by its partner GPC Biotech AG, among other trials.

For the first nine months of the fiscal year, Spectrum reported $92,000 in revenue, down from $424,000 in the year-ago period. Net loss was $22.3 million, or 93 cents a share in the nine-month period, down from a loss of $15 million, or 96 cents a share, in the first nine months of fiscal 2005.

Irvin, California based Spectrum (NASDAQ: SPPI) develops anti-cancer drugs, funding the research through the sale of generic versions of common prescription drugs