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AtheroNova Releases 2011 Financial Results
Date:3/21/2012

Key Highlights

  • AHRO compounds show no morbidity, toxicology effects or mortality in pre-clinical studies and are well tolerated at high doses.
  • Plaque reducing compounds could become the gold standard in a $41+ Billion Market segment.
  • In the US alone, there are approximately 81 million people with some form of cardiovascular disease.
  • Drug eluting stents, catheterization and balloon angioplasty do not reduce plaque volume.

  • "We have seen a significant year-to-year increase in net income due to the fair value of derivative liabilities," commented CFO Mark Selawski. "Cash position is the important measurement for us currently and we are comfortable with where we ended the year.  The Company will continue to evaluate its cash needs in relation to its cash resources to maximize resource yield."

    About AtheroNovaAtheroNova Inc., through its wholly-owned subsidiary, AtheroNova Operations, Inc., is an early stage biotech company focused on discovery, research, development and licensing of novel compounds to reduce or regress atherosclerotic plaque deposits. The Company's focus on compounds to reduce or regress atherosclerotic plaque deposits addresses the most lucrative segments of the multi-billion dollar prescription drug market: cardiovascular disease and stroke prevention. www.AtheroNova.com.

    Consolidated Results of Operations for the 12 months ended December 31, 2011 and 2010:20112010Revenue, net$

    --

    $

    --Operating expenses:Research and development381,540386,385General and administrative expenses2,178,6951,720,182Impairment charge-intellectual property--572,868Loss from operations(2,560,235)(2,679,435)Other (income) expenses(6,829,161)12,975,658Net income (loss)$

    4,263,286

    $

    (15,656,852)Basic income (loss) per share$

    0.17

    $

    (0.70)Diluted income (loss) per share$

    0.15

    $

    (0.70
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    SOURCE AtheroNova Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

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