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Discovery Labs Reports Third Quarter Financial Results and Progress on Lead Programs
Date:11/10/2011

s and licenses related to its products, or other companies may develop competing therapies and/or technologies, or health care reform may adversely affect Discovery Labs; risks of legal proceedings, including securities actions and product liability claims; risks relating to health care reform; and other risks and uncertainties described in Discovery Labs' filings with the Securities and Exchange Commission including the most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto.Condensed Consolidated Statement of Operations
(in thousands, except per share data)Three Months EndedNine Months EndedSeptember 30,September 30(unaudited)(unaudited)2011201020112010Revenue from collaborative arrangement and grants $
-$
-$
582$
-Operating expenses: (1)Research and development3,9814,72713,21613,223General and administrative2,1891,4765,9756,273Total expenses6,1706,20319,19119,496Operating loss(6,170)(6,203)(18,609)(19,496)Change in fair value of common stock warrant liability (1)1,422(365)1,9576,384Other income / (expense), net(3)(16)(12)(323)Net loss $
(4,751)$
(6,584)$
(16,664)$
(13,435)Net loss per common share$
(0.20)$
(0.51)$
(0.75)$
(1.23)Weighted avg. common shares outstanding24,10612,94522,10410,954(1) Material non-cash items include the change in fair value of certain outstanding warrants accounted for as derivative liabilities, and in operating expenses, depreciation and stock-based compensation. For the three and nine months ended September 30, 2011, the charges for depreciation and stock-based compensation were $0.5 million ($0.4 million in R&D and $0.1 million in G&A) and $1.5 million ($1.1 million in R&D and $0.4 million in G&A), respectively.  For the three and nine months ended September 30, 2010, the charges for depreciation and stock-based compensation were $0.6 million ($0.4 million in R&D and $0.2 million in G&A) and $2.1 million ($1.3 million in R&D and $0.8 m
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SOURCE Discovery Laboratories, Inc.
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