initiatives, were $3.5 million in the fourth quarter of 2007, down from
$5.5 million in the previous quarter and $6.3 million in the fourth
quarter of 2006. R&D expenses declined for the full year of 2007 to
$22.0 million, compared to $26.0 million in the prior year. Reduced R&D
expenses resulted mainly from lower spending on the Company's MOXATAG
clinical trial which concluded in 2006.
Selling, general and administrative (SG&A) expenses totaled $5.6
million in the fourth quarter of 2007, down from $6.5 million in the
third quarter of 2007, and $8.3 million in the fourth quarter of 2006.
Fourth quarter SG&A costs declined due to lower third-party costs
associated with the reduced size of Company's contract sales force. For
the full year of 2007, SG&A expenses increased to $26.0 million, from
$21.3 million, as the Company incurred a full year of Keflex 750
selling and marketing expenses in 2007, versus incurring such costs
only during a portion of 2006.
-- Other expenses for the fourth quarter of 2007 included a $2.1 million
noncash expense for the contractual value of warrants issued to
Deerfield Management pursuant to the Keflex transaction in the quarter.
There were no such expenses in prior periods.
-- Net loss for the fourth quarter of 2007 was $9.1 million. This compares
to a net loss of $10.1 million in the third quarter of 2007, and $13.8
million in the fourth quarter of 2006. Net loss for the full year of
2007 was $42.2 million, compared to a net loss of $42.0 million for the
full year of 2006. The net loss for the three months and full year
ended December 31, 2007, was reduced by $0.2 million attributable to
the loss from noncontrolling interest in two compani
|SOURCE MiddleBrook Pharmaceuticals, Inc.|
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