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EpiCept Reports Second Quarter 2013 Operating and Financial Results
Date:7/31/2013

nsists of Herve de Kergrohen, Isaac Kobrin, Pierre Albouy and Ana Stancic, and Robert W. Cook, EpiCept's current Interim President, Chief Executive Officer and Chief Financial Officer, who will also serve as the Chief Financial Officer of IPI.  IPI plans to assume EpiCept's common stock listings on the OTCQX and on the NASDAQ OMX Stockholm Exchange. 

Financial and Operating Highlights EpiCept's net loss attributable to common stockholders for the second quarter of 2013 was $1.7 million, or $0.01 per share, compared with net income attributable to common stockholders of $2.2 million, or $0.03 per share, for the second quarter of 2012.  The net income attributable to common stockholders for the second quarter of 2012 included $0.8 million of deemed dividends on convertible preferred stock.  EpiCept's net loss attributable to common stockholders for the six months ended June 30, 2013 was $2.8 million, or $0.03 per share, compared with a net loss attributable to common stockholders of $2.5 million, or $0.03 per share, for the six months ended June 30, 2012.  The net loss attributable to common stockholders for the six months ended June 30, 2012 included $1.9 million of deemed dividends on convertible preferred stock.

Second Quarter and Six Months 2013 vs. Second Quarter and Six Months 2012RevenueThe Company recognized revenue of $0.1 million and $6.6 million during the second quarters of 2013 and 2012, respectively.  The Company recognized revenue of $0.5 million and $6.8 million during the six months ended June 30, 2013 and 2012, respectively.  For the second quarter of 2013, revenue consisted primarily of the recognition of license fee payments previously received from the Company's partners.  For the second quarter of 2012, revenue consisted primarily of license fee payments and product revenue from the sale of the Company's rights to Ceplene® to Meda AB.

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SOURCE EpiCept Corporation
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