General and administrative expenses of $1,248,605 for the second quarter of 2007 were up from $628,366 in the prior year period, primarily based on non-cash stock based compensation expense from options issued in April of 2007, and estimated accrued expenses associated with the delay in filing registration statements from previous preferred offerings
RECENT CORPORATE ACHIEVEMENTS:
Avicena announced plans for a confirmatory Phase III Amyotrophic Lateral Sclerosis (ALS) trial after meeting with the Food and Drug Administration (FDA). The confirmatory Phase III trial of the drug candidate, AL-02, for the treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease), follows two completed studies demonstrating a positive trend towards increased survival.
Avicena announced patient enrollment on target in National Institutes of Health (NIH) Phase III Parkinson's Disease Trial. The Phase III trial, sponsored by the NIH's National Institute of Neurological Disorders and Stroke (NINDS), is designed to evaluate the potential of Avicena's lead Parkinson's disease drug candidate, PD-02, in slowing disease progression. This trial will enroll over 1,720 patients and is one of the largest Parkinson's disease trials ever conducted.
Avicena announced advancement of Huntington's disease clinical program into Phase III in early 2008. Based on a dose-ranging study, Avicena selected an optimal dose of its novel drug candidate HD-02 for the treatment of Huntington's disease. The Company plans to initiate a Phase III trial in early 2008.
Avicena Group, Inc. is a Palo Alto, California-based late stage
biotechnology company that develops central nervous system therapeutics for
neurodegenerative diseases. The company's core technologies, supported by a
|SOURCE Avicena Group, Inc.|
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