BERKELEY, Calif., March 13 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (OTC Bulletin Board: NILT), today announced its fourth quarter and full year financial results for 2007. Participants may access the archived webcast of the conference call from the investor relations section of Nile's website at http://www.nilethera.com. The webcast will remain available on the company's website until the next quarterly conference call.
For the fourth quarter of 2007, Nile reported a net operating loss of $2.7 million, or $0.11 per share. For the full year, net operating loss was $9.5 million, or $0.56 per share. Weighted average shares outstanding for the fourth quarter and for all of 2007 were 24.1 million and 16.9 million, respectively.
Nile reported no revenue during the fourth quarter and grant income of $0.1 million during 2007. For the fourth quarter and for all of 2007, Nile reported net interest income of $0.2 million and net interest expense of $0.8 million, respectively.
As of December 31, 2007, Nile had cash and cash equivalents of $16.2 million compared to $18.0 million at September 30, 2007. Cash and cash equivalents declined $1.8 million in the fourth quarter of 2007 from the third quarter of 2007 as cash was used for operations.
About Nile Therapeutics
Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company
that develops innovative products for the treatment of cardiovascular
disease and other areas of unmet medical need. Nile is initially focusing
its efforts on developing its lead compound, CD-NP, a novel chimeric
peptide in clinical studies for the treatment of heart failure, and
2NTX-99, a small molecule, pre-clinical, anti-atherothrombotic agent with
nitric oxide donating properties. A key component of the company's strategy
is to acquire the global rights to additional compounds to expand its
portfolio. More information on Nile can be found at
|SOURCE Nile Therapeutics, Inc.|
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