Conference call scheduled for March 13 at 1:30 p.m. (Pacific Time);
simultaneous webcast at http://www.adventrx.com
SAN DIEGO, March 13 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (Amex: ANX), a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates primarily for the treatment of cancer and infectious disease, today reported financial results for the fourth quarter and year ended December 31, 2007.
Three-Month Period Ended December 31, 2007 Operating Results
ADVENTRX's net loss was $5.4 million, or $0.06 per share, for the three- month period ended December 31, 2007, compared to a net loss of $4.3 million, or $0.05 per share, for the same period in 2006. Included in the net loss for the three-month period ended December 31, 2007 were non-cash, share-based compensation expenses amounting to $538,000, compared to $505,000 for the same period in 2006.
Research and development, or R&D, expenses increased by $827,000, or 27%, to $3.9 million for the three-month period ended December 31, 2007, from $3.1 million for the same period a year ago. The increase was primarily due to a $665,000 increase in expenses related to external research-related manufacturing, regulatory and quality assurance activities and a $137,000 increase in personnel and related costs. R&D expenses for the three-month period ended December 31, 2007 included non-cash, share-based compensation expense amounting to $260,000, compared to $143,000 for the same period a year ago.
Selling, general and administrative, or SG&A, expenses increased by
$193,000, or 11%, to $1.9 million for the three-month period end
|SOURCE ADVENTRX Pharmaceuticals, Inc.|
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