CHICAGO, May 7 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases, today announced its financial results for the first quarter ended March 31, 2008. The net loss available to common shareholders for the three months ended March 31, 2008 was $3.6 million or ($0.09) per share compared to $10.5 million or ($0.37) per share for the three months ended March 31, 2007. The decrease in the net loss reflects lower development expenses related to the cethromycin pivotal Phase III clinical program, which was completed in November 2007.
"Having confirmed the regulatory plans for cethromycin, we are pushing forward aggressively to achieve our partnering and NDA submission goals," said Michael T. Flavin, Ph.D., chairman and chief executive officer of Advanced Life Sciences. "We believe cethromycin can be an important new drug in the treatment of community acquired pneumonia and, if approved, can assist in the emerging battle against drug resistant bacteria."
The company ended the first quarter of 2008 with cash and cash
equivalents totaling $12.6 million. Cash used during the first quarter was
approximately $5.7 million.
Operating Expense Analysis:
* Research and development expense. Total research and development
expense decreased $7.2 million to approximately $1.9 million for the
three months ended March 31, 2008 from approximately $9.1 million for'/>"/>
|SOURCE Advanced Life Sciences Holdings, Inc.|
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