Analysis of Primary Endpoint for Phase 3 Registration Trial No Later Than
SAN DIEGO, Feb. 19 /PRNewswire-FirstCall/ -- Favrille, Inc. (Nasdaq: FVRL), a biopharmaceutical company developing patient-specific, active immunotherapies for the treatment of cancer, today reported its financial results for the fourth quarter and year end 2007. For the quarter and year ended December 31, 2007, the Company reported net losses of $7.8 million, or $0.21 per share, and $43.1 million, or $1.28 per share, respectively, compared to $10.2 million, or $0.35 per share, and $40.5 million, or $1.49 per share, for the same periods in 2006.
"It is with great excitement and anticipation that we begin 2008 and approach the end of our Phase 3 clinical trial of Specifid(TM) (mitumprotimut-T, formerly FavId(R))," said John P. Longenecker, Ph.D., President and Chief Executive Officer of Favrille. "We are in the process of data collection and are on schedule for data cut off in April and completion of data analysis no later than July. The rate of disease progression continues to be very slow and we believe we have enrolled an optimal patient population to maximize prospects for demonstrating a clinical benefit in our Phase 3 trial."
Fourth Quarter and Year End 2007 Financial Review
Research and development expense was approximately $7.8 million and
$34.9 million for the fourth quarter and year ended December 31, 2007,
respectively, compared to approximately $7.7 million and $31.1 million for
the same periods in 2006. The increase is primarily due to operating
expenses, including salaries and stock-based compensation, associated with
our commercial-scale manufacturing facility, and consulting and outside
services to support our Specifid Phase 3 clinical trial. Total st
|SOURCE Favrille, Inc.|
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