Interest income decreased to $106,792 for the three-month period ended February 29, 2008, compared with $199,923 for the same period in fiscal 2007. The decrease was primarily the result of lower average cash and investment balances.
Research and development costs increased to $2,595,906 for the three-month period ended February 29, 2008, compared to $1,957,328 for the same period in fiscal 2007. The increase was primarily the result of an increase in staffing levels related to an overall increase in activity as the Company is preparing three products for the clinic, accompanied by increased patent and licensing activity.
General and administrative expenses increased to $1,021,281 for the three-month period ended February 29, 2008, compared to $674,336 for the same period in fiscal 2007. The increase was primarily the result of an increase in staffing levels, consulting fees and legal expenses.
As at February 29, 2008, ARIUS' cash and cash equivalents, short-term investments and net working capital position were $9,760,273, $1,299,844 and $8,245,154, respectively, compared with November 30, 2007 balances of $5,635,365, $6,825,190 and $9,088,712, respectively. The Company currently believes that it has adequate financial resources to continue into the fourth quarter of fiscal 2008 based on planned research and development expenditures and operating costs.
ARIUS is a biotechnology company discovering and developing the next
wave of antibody therapeutics. Established in 1999, ARIUS has built a
proprietary technology platform, FunctionFIRST(TM), that rapidly identifies
and selects antibodies based on their functional ability to affect disease.
This antibody gene
|SOURCE ARIUS Research Inc.|
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