Total consolidated expenses for the three months ended September 30, 2009 were $5.0 million as compared with $11.8 million in the three months September 30, 2008. Expenses related to the Corporation's direct research and development efforts accounted for $3.7 million or 75% of all expenses as compared with $10.1 million or 86% in 2008. Total consolidated expenses for the nine months ended September 30, 2009 were $30.1 million as compared with $45.4 million in the nine months September 30, 2008. Expenses related to the Corporation's direct research and development efforts accounted for $23.4 million or 78% of all expenses as compared with $32.6 million or 72% in 2008.
At September 30, 2009, cash and cash equivalents and short-term investments totaled $56.3 million as compared to $90.4 million at December 31, 2008. At September 30, 2009, the Corporation had working capital of $54.4 million as compared to $81.3 million at December 31, 2008.
Management estimates that the current working capital is sufficient for the Corporation to meet its obligations to fund the completion costs of the completed clinical trials and ongoing operations beyond 2010.
As at September 30, 2009 there were 91,008,923 Class "A" common shares of the Company issued and outstanding.
About BioMS Medical Corp. -------------------------
BioMS Medical is a biotechnology company engaged in the development and commercialization of novel therapeutic technologies. BioMS Medical's lead technology, dirucotide, is for the treatment of multiple sclerosis. For further information please visit our website at http://www.biomsmedical.com
This press release may contain forward-looking statements, which reflect the Corporation's current expectation regarding future events. These forward-looking statements involve
|SOURCE BioMS Medical Corp.|
Copyright©2009 PR Newswire.
All rights reserved