ROCKVILLE, Md., Aug. 14 /PRNewswire-FirstCall/ -- Neuralstem Inc. (Amex: CUR) today reported financial results for the three months ended June 30, 2008.
For the second quarter of 2008, the Company reported a net loss of $2,957,672, or $(0.09) per share, compared to a net loss of $1,798,911 or $(0.06) per share, for the comparable 2007 period. Net loss attributable to common stockholders for the first six months of 2008 was $5,232,124 or $(0.16) per share, compared to $2,748,153, or $(0.10) per share, for the comparable periods in 2007. The increase in net loss year to year was due to an increase in non cash stock-based compensation expense, salaries, and legal fees. The Company used $1.4 million of cash in the second quarter and $3.2 million of cash in the first half of the year. The cash balance at the end of the first half was $6.9 million.
Result of Operations for the Three Months ending June 30, 2008 and 2007:
Revenues for the three months ended June 30, 2008 and 2007 were $0 and $78,499 respectively as 2007 included funding from a grant which has ended.
Research and development expenses for the three months ended June 30, 2008 and 2007 were $1,633,728 and $744,149, respectively. The increase in expenses in current period consists mainly of payroll and payroll related expenses, stock-based compensation expense, research supplies and costs incurred in connection with preparing for clinical trials.
General and administrative expenses for the three months ended June 30,
2008 and 2007 were $1,318,708, and $1,178,015, respectively. The principal
|SOURCE Neuralstem Inc.|
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