NEW YORK, Nov. 16 /PRNewswire-FirstCall/ -- Cadus Corporation (OTC Bulletin Board: KDUS) announced today financial results for the third quarter ended September 30, 2009.
Revenues were $0 for the third quarter of 2009 and for the same period in 2008. Net income for the third quarter of 2009 was $18,251, compared to a net loss of $110,944 for the same period in 2008. Basic net income per share was $0.00 for the third quarter of 2009, compared to basic net loss per share of $0.01 for the same period in 2008.
Revenues were $100,000 for the first nine months of 2009 and for the same period in 2008. Net loss for the first nine months of 2009 was $157,651, compared to a net loss of $266,145 for the same period in 2008. Basic net loss per share for the first nine months of 2009 was $0.01, compared to a basic net loss per share of $0.02 for the same period in 2008.
As of October 31, 2009, 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, 2008. 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,
|SOURCE Cadus Corporation|
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