Navigation Links
Cadus Reports Third Quarter 2007 Results
Date:11/13/2007

NEW YORK, Nov. 13 /PRNewswire-FirstCall/ -- Cadus Corporation (OTC Bulletin Board: KDUS.OB) announced today financial results for the third quarter ended September 30, 2007.

Revenues were $0 for the third quarter of 2007 and for the same period in 2006. Net income for the third quarter of 2007 was $240,227, compared to net income of $200,335 for the same period in 2006. Basic net income per share was $0.02 for the third quarter of 2007 and for the same period in 2006.

Revenues were $100,000 for the first nine months of 2007 and for the same period in 2006. Net loss for the first nine months of 2007 was $99,282, compared to net income of $376,533 for the same period in 2006. Basic net loss per share for the first nine months of 2007 was $0.01, compared to basic net income per share for the same period in 2006 of $0.03.

As of October 31, 2007, 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, 2006. 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 technologies.

CADUS CORPORATION

Condensed Consolidated Balance Sheets

ASSETS

September 30, December 31,

2007 2006

(Unaudited) (Audited)

Current assets:

Cash and cash equivalents $25,686,189 $24,602,202

Prepaid and other current assets 46,459 5,210

Investment in marketable securities -- 628,585

Total current assets 25,732,648 25,235,997

Investment in other ventures 183,416 173,427

Patents, net 572,443 637,267

Total assets $26,488,507 $26,046,691

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accrued expenses and other current

liabilities $94,612 $61,307

Total current liabilities 94,612 61,307

Commitments

Stockholders' equity:

Common stock 132,857 132,857

Additional paid-in capital 59,844,355 59,844,355

Accumulated deficit (33,283,242) (33,183,960)

Accumulated other comprehensive

(loss) income -- (507,793)

Treasury stock (300,075) (300,075)

Total stockholders' equity 26,393,895 25,985,384

Total liabilities and

stockholder's equity $26,488,507 $26,046,691

CADUS CORPORATION

Condensed Consolidated Statements of Income

(Unaudited)

Three Months Ended

September 30,

2007 2006

License and maintenance fees $- $-

Total revenues - -

Costs and expenses:

General and administrative expenses 103,816 122,383

(Income) from equity in other ventures (3,919) (3,300)

Total costs and expenses 99,897 119,083

Operating loss (99,897) 119,083)

Other income:

Interest income 340,124 319,418

Income before income taxes 240,227 200,335

Income taxes - -

Net income $240,227 $200,335

Basic and diluted income per

weighted average share of common

stock outstanding $0.02 $0.02

Weighted average shares of common

stock outstanding - basic and

diluted 13,144,040 13,144,040

CADUS CORPORATION

Condensed Consolidated Statements of Operations

(Unaudited)

Nine Months Ended

September 30,

2007 2006

License and maintenance fees $100,000 $100,000

Total revenues 100,000 100,000

Costs and expenses:

General and administrative expenses 530,023 603,289

(Income) from equity in other ventures (9,989) (8,668)

Total costs and expenses 520,034 594,621

Operating loss (420,034) (494,621)

Other income:

Interest income 989,766 871,154

Loss on sale of marketable securities (668,246) -

(Loss) income before income taxes (98,514) 376,533

Provision for income taxes 768 -

Net (loss) income ($99,282) $376,533

Basic and diluted (loss) income per

weighted average share of common

stock outstanding ($0.01) $0.03

Weighted average shares of common

stock outstanding - basic and

diluted 13,144,040 13,144,040


'/>"/>
SOURCE Cadus Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
2. QMed, Inc. Reports July Medicare SNP Enrollments
3. Phlo Affiliate Reports Expanded Coverage to Oregon Border
4. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
5. Dragon Pharmaceutical Reports Growth in Sales and Profits during Second Quarter of 2007
6. Carrington Reports Second Quarter 2007 Results
7. Avitar Reports Third Quarter Financial Results for Fiscal 2007
8. Response Genetics Reports Second Quarter 2007 Financial Results
9. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
10. Transgenomic, Inc. Reports Second Quarter 2007 Results
11. Pressure BioSciences, Inc. Reports Second Quarter 2007 Financial Results and Provides Business Update
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/30/2016)... 30, 2016  GenomOncology today announced the appointment of ... Affairs.  Dr. Coleman will oversee clinical content ... knowledge-enabled platform. The GenomOncology software suite empowers molecular pathologists with ... and clinical decision support, from quality control through reporting. ... , , ...
(Date:11/30/2016)... , Nov. 30, 2016  The Allen ... Cell Collection: the first publicly available collection of ... cells that target key cellular structures with unprecedented ... Research, these powerful tools are a crucial first ... to better understand what makes human cells healthy ...
(Date:11/30/2016)... November 2016   Merck , ein ... Unterzeichnung einer Reihe von Vereinbarungen mit Evotec ... AG Screeningleistungen für Mercks Palette genetischer Reagenzien ... auf diese Bibliotheken in Kombination mit Evotecs ... Weg zur Ermittlung und Erforschung neuer Arzneimitteltargets.    ...
(Date:11/30/2016)... ... November 30, 2016 , ... Energetiq Technology, a world leader ... generation, ultra-bright, Laser-Driven Light Source, the EQ-77, at the MRS Fall Exhibit 2016. ... offers higher radiance and irradiance from a truly broadband white light source. The ...
Breaking Biology Technology:
(Date:11/17/2016)... it has just released a new white paper authored by Zettar that covers the ... transfer storage solutions. Photo - http://photos.prnewswire.com/prnh/20161116/440463 ... ... ... Setting up a high performance computing or HPC system can be a complicated endeavor ...
(Date:11/14/2016)... Calif. , Nov. 14, 2016 /PRNewswire/ ... biometric identification market, Frost & Sullivan recognizes ... & Sullivan Award for Visionary Innovation Leadership. ... in the biometric identification market by pioneering ... verification solution for instant, seamless, and non-invasive ...
(Date:6/21/2016)... VANCOUVER, British Columbia , June 21, 2016 ... been appointed to the new role of principal ... has been named the director of customer development. ... , NuData,s chief technical officer. The moves reflect ... development teams in response to high customer demand ...
Breaking Biology News(10 mins):