Research and development expenses were $2.9 million for the three months ended June 30, 2011, compared to $5.9 million for the same period in the prior year. The decrease in research and development expenses was primarily attributed to reductions in clinical and regulatory expenses.
General and administrative expenses totaled $2.4 million for the three months ended June 30, 2011, compared to $2.8 million for the same period in the prior year.
Expenses for the quarter ended June 30, 2010 and 2011 include $1.5 million and $1.3 million, respectively, in stock-based compensation expense related to options granted to employees and non-employees.
Biodel did not recognize any revenue during the quarter ended June 30, 2010 or 2011.
At June 30, 2011, Biodel had cash, cash equivalents and marketable securities of $42 million and 38.6 million shares outstanding.
Conference Call and Webcast Information
Biodel's senior management will host a conference call on August 4, 2011 beginning at 4:30 pm Eastern Daylight Time to discuss these results and provide a company update. Live audio of the conference call will be available to investors, members of the news media and the general public by dialing +1 (877) 303-8028 (United States) or +1 (760) 536-5167 (international). To access the call by live audio webcast, please log on to the investor section of the company's website at www.biodel.com. An archived version of the audio webcast will be available on Biodel's website.
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients. We develop our
|SOURCE Biodel Inc.|
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