NEW YORK, Aug. 14 /PRNewswire-FirstCall/ -- Cadus Corporation (OTC Bulletin Board: KDUS) announced today financial results for the second quarter ended June 30, 2008.
Revenues were $0 for the second quarter of 2008 and for the same period in 2007. Net income for the second quarter of 2008 was $52,795, compared to net income of $218,960 for the same period in 2007. Basic net income per share for the second quarter of 2008 was $0.00, compared to basic net income per share for the second quarter of 2007 of $0.02.
Revenues were $100,000 for the first six months of 2008 and for the same period in 2007. Net loss for the first six months of 2008 was $155,201, compared to a net loss of $339,509 for the same period in 2007. Basic net loss per share for the first six months of 2008 was $0.01, compared to a basic net loss per share for the same period in 2007 of $0.03.
As of June 30, 2008, Cadus had 13,144,040 shares outstanding.
This press release may contain forward-looking statements that involve
a number of risks and uncertainties. Important factors that could cause
actual results to differ materially from those indicated by such
forward-looking statements are set forth in the company's annual report on
Form 10-K for the year ended December 31, 2007. These include risks and
uncertainties relating to the company's ability to license its technologies
to third parties, the company's capital needs and uncertainty of future
funding, the company's history of operating losses, the unpredictability of
patent protection and the risk of obsolescence of the company's
Condensed Consolidated Balance Sheets
June 30, December 31,
|SOURCE Cadus Corporation|
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