Selling, general and administrative, or SG&A, expenses increased by $0.8 million, or 40%, to $2.6 million for the three-month period ended December 31, 2008, from $1.9 million for the same period a year ago. The increase was substantially due to a $0.6 million increase in severance expenses, a $0.2 million increase for consulting expenses related to market research and a $0.1 million increase in professional services, offset by a $0.1 million decrease in non-cash, stock-based compensation expenses. SG&A expenses for the three-month period ended December 31, 2008 included non-cash, stock-based compensation expenses amounting to $0.1 million, compared to $0.3 million for the same period a year ago.
Interest income amounted to $18,000 for the three-month period ended December 31, 2008, compared to $438,000 for the same period a year ago. The decrease in interest income was primarily attributable to lower invested balances and interest rates.
Year 2008 Operating Results
ADVENTRX's net loss was $26.6 million, or $0.30 per share, for 2008, compared to a net loss of $22.1 million, or $0.25 per share, for 2007. Included in the loss for 2008 were non-cash, share-based compensation expenses amounting to $1.6 million compared to $2.5 million for the same period in 2007.
R&D expenses increased by $2.0 million, or 12%, to $17.9 million for 2008, from $15.9 million for 2007. The increase was primarily due to a $6.2 mil
|SOURCE ADVENTRX Pharmaceuticals, Inc.|
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