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GAITHERSBURG, Md., March 6 /PRNewswire-FirstCall/ -- Iomai Corporation (Nasdaq: IOMI) today reported financial results and corporate progress for the full year ended December 31, 2007.
"In the past few months, we have further demonstrated that Iomai's vaccine and immunostimulant patches can be safely and effectively self-applied," said Stanley C. Erck, president and chief executive officer of Iomai. "This lays the foundation for a revolution in the way vaccination is approached. Rather than shots at a doctor's office or travel clinic, we believe we have a platform that makes possible a vaccine that could be mailed to consumers and self-applied."
"2007 was a groundbreaking year for Iomai, with the positive results from the Phase 2 field study of our travelers' diarrhea vaccine and the $128 million government contract to fund the development of our adjuvant patch for pandemic influenza," continued Mr. Erck. "This year, we hope to build on those achievements by pursuing a partnering deal, announcing results from the Phase 1/2 trial of our adjuvant patch for pandemic influenza and preparing to conduct a pivotal Phase 3 trial for our travelers' diarrhea vaccine in 2009."
Full-Year and Fourth Quarter 2007 Financial Results
For the full year ended Dec. 31, 2007, Iomai reported a net loss
available to common stockholders of $28.3 million, or $1.16 per share,
compared to a net loss of $32.3 million, or $2.03 per share, for the year
ended Dec. 31, 2006. The lower net loss per share in 2007 was attributable
to increased revenues principally under our Department of Health and Human
Services ("DHHS") contract, which was awarded in January 2007 and the
|SOURCE Iomai Corporation|
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