DANBURY, Conn., Aug. 4, 2011 /PRNewswire/ -- Biodel Inc. (Nasdaq: BIOD) today reported financial results for the third quarter ended June 30, 2011.
Third Quarter Operating Highlights
During Biodel's third quarter of fiscal year 2011, the company:
Dr. Errol De Souza, president and chief executive officer of Biodel, stated: "We are continuing to develop and evaluate ultra-rapid-acting human insulin and insulin analog formulations and are making good progress in assessing tolerability and activity in a variety of pre-clinical and clinical settings. We plan to provide details on the pharmacokinetic, pharmacodynamic and injection site tolerability characteristics of the two RHI-based ultra-rapid-acting formulations from the recently completed subcutaneous injection Phase 1 trial and will update the timelines for completion of the insulin pump trial. In addition, we have taken a number of steps to extend our cash runway including renegotiation of our RHI supply agreement and raising additional capital from previous and new investors. These initiatives are helping us create a new generation of ultra-rapid-acting insulin product candidates and sustainable long-term value for all shareholders."
Third Quarter Financial Results
Biodel reported a net loss of $4.0 million, or $0.12 per sha
|SOURCE Biodel Inc.|
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