CHICAGO, Aug. 14 /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 second quarter ended June 30, 2008.
The net loss for the three months was $3.4 million or ($0.09) per share compared to $10.6 million or ($0.37) per share for the three months ended June 30, 2007. The improvement in the net loss reflects lower development expenses related to the cethromycin pivotal Phase III clinical program, which was completed in November 2007.
"Recognizing the increased need for new drugs to address emerging bacterial resistance, our team has worked intensely this quarter to finalize our NDA submission for cethromycin in the community acquired pneumonia indication and advancing our pre-commercial objectives," said Michael T. Flavin, Ph.D., chairman and chief executive officer of Advanced Life Sciences. "We also made substantial progress with our biodefense initiatives and pipeline programs."
The company ended the second quarter of 2008 with cash and cash
equivalents totaling $9.1 million, having used approximately $3.5 million
in the quarter.
Operating Expense Analysis
* Research and development expenses were $1.7 million for the three
months ended June 30, 2008 compared to $8.8 million for the three
months ended June 30, 2007. The decrease in R&D expense is related
to lower cli
|SOURCE Advanced Life Sciences Holdings, Inc.|
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