Consolidated SG&A expenses decreased to $17.3 million for the year ended December 31, 2008, compared to $20.4 million for the year ended December 31, 2007. The decrease in SG&A expenses is primarily related to the organizational changes and cost-saving measures that were implemented beginning in the second quarter of 2008.
Consolidated R&D costs were $57.4 million for the year ended December 31, 2008, compared to $39.2 million for the year ended December 31, 2007. The increase in consolidated R&D costs for the year 2008 compared to 2007 is mainly attributable to the advancement of our Phase 3 program with our lead compound, cetrorelix, in BPH.
Consolidated net loss was $59.8 million, or $1.12 per basic and diluted share, for the year ended December 31, 2008, compared to $32.3 million, or $0.61 per basic and diluted share, for the year ended December 31, 2007. The increase in consolidated net loss is attributable to a combination of lower license fee revenues, lower manufacturing margins, higher R&D costs, higher depreciation and amortization and higher income tax expense, partly offset by lower SG&A expenses and higher net foreign exchange gains.
Management will be hosting a conference call for the investment community beginning at 10:00 a.m. Eastern Time today, Wednesday, March 11, 2009, to discuss fourth quarter and full-year 2008 results. Individuals interested in participating in the live conference call by telephone may dial 416-646-3095, 514-807-8791 or 800-814-4859, or may listen through the Internet at www.aezsinc.com. A replay will be available on the Company's website for 30 days following the live event.
About AEterna Zentaris Inc.
AEterna Zentaris Inc. is a global biopharmaceutical company focused on endocrine therapy and oncology, with proven ex
|SOURCE AETERNA ZENTARIS INC.|
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