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

i>Cost of goods sold in the second quarter of 2013 and 2012 was zero and $0.4 million, respectively, consisting solely of the cost for Ceplene® inventory sold during the quarter. 

Selling, General and Administrative (SG&A) ExpenseSG&A expense in the second quarter of 2013 decreased by 36%, or $0.5 million, to $0.9 million from $1.4 million in the second quarter of 2012.  The decrease was primarily attributable to lower salary and salary related expenses as the result of a reduction in staff and lower consulting expenses.  SG&A expense in the six months ended June 30, 2013 decreased by 39%, or $1.1 million, to $1.7 million from $2.8 million in the six months ended June 30, 2012.  The decrease was primarily attributable to lower salary and salary related expenses as the result of a reduction in staff and lower consulting expenses.  The Company expects general and administrative expenses to remain at approximately current levels through the close of the merger with Immune.

Research and Development (R&D) Expense R&D expense in the second quarter of 2013 decreased by 30%, or $0.3 million, to $0.7 million from $1.0 million in the second quarter of 2012.  This decrease was primarily related to lower clinical trial expenses in connection with the sale of EpiCept's rights to Ceplene® in Europe and certain Pacific Rim countries in June 2012.  R&D expense in the six months ended June 30, 2013 decreased by 57%, or $1.3 million, to $1.0 million from $2.3 million in the six months ended June 30, 2012.  This decrease was primarily related to lower clinical trial expenses in connection with the sale of EpiCept's rights to Ceplene® in Europe and certain Pacific Rim countries in June 2012 and lower salary and salary related expenses as the result of a reduction in staff.  The Company expects R&D expense to remain at approximately curren
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SOURCE EpiCept Corporation
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