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MiddleBrook Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results
Date:3/4/2008

p> personnel and the costs the Company's clinical trials and research

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
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SOURCE MiddleBrook Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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