31, 2007, from $1.7 million for the same period a year ago. The increase
was primarily due to a $201,000 increase in personnel and related costs and
a $109,000 increase in market research consulting expense for ANX-530 and
ANX- 514, partially offset by a $78,000 decrease in non-cash, share-based
compensation expense related to non-employee stock options and a $62,000
decrease in overall legal fees. SG&A expenses for the three-month period
ended December 31, 2007 included non-cash, share-based compensation
expenses amounting to $278,000, compared to $362,000 for the same period a
Interest income amounted to $438,000 for the three-month period ended
December 31, 2007, compared to $455,000 for the same period a year ago.
Effective January 1, 2007, the Company adopted FASB Staff Position on
No. EITF 00-19-2, Accounting for Registration Payment Arrangements ("FSP
EITF 00- 19-2"). Pursuant to FSP EITF 00-19-2, the Company determined that
no contingent liability was required to be recognized as of December 31,
2007 relating to a class of warrants issued in July 2005 that contained a
registration payment arrangement, and accordingly, the carrying amount of
the warrant liability that had been reported in previous periods was
eliminated. In applying the new method retrospectively, the comparative
financial statements of prior periods have been adjusted to eliminate the
fair value of the warrant liability.
Year 2007 Operating Results
The net loss for the year ended December 31, 2007 was $22.1 million, or
$0.25 per share, compared to $28.7 million, or $0.39 per share, for 2006.
Included in the loss for 2006 was a charge of $10.4 million of in-process
research and development expense recorded in connection with the
acquisition of SD Pharmaceuticals and eight of its product candidates.
Included in the net loss for 2007 were non-cash, share-based compensation
expenses amounting to $2.5 million, compared to $2.1 million for 2006.
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|SOURCE ADVENTRX Pharmaceuticals, Inc.|
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. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer2
. ADVENTRX Pharmaceuticals to Present at the 2007 Thomas Weisel Partners Healthcare Conference3
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. ADVENTRX Pharmaceuticals to Present at the ThinkEquity Partners Fifth Annual Growth Conference6
. ADVENTRX Pharmaceuticals to Present at the 2007 UBS Global Life Sciences Conference7
. ADVENTRX to Present ANX-514 Preclinical Data at 2007 AACR-NCI-EORTC International Conference8
. ADVENTRX Pharmaceuticals to Present at the 2007 BIOInvestor Forum9
. ADVENTRX Appoints Vice President of Commercialization10
. ADVENTRX Pharmaceuticals Reports Third Quarter 2007 Financial Results11
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