Navigation Links
Nile Therapeutics Reports 2007 Fourth Quarter and Full Year Financial Results

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 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


Daron Evans

Chief Financial Officer

Nile Therapeutics, Inc.


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, outlook, milestones, the success of Nile's product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. We may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that we make are described in greater detail in the reports we file with Securities and Exchange Commission, including the "Risk Factors" section of our Prospectus filed pursuant to Rule 424(b)(3) of the Securities Act of 1933, as amended, with the Securities and Exchange Commission on November 15, 2007. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.


Three Months Ended Twelve Months Ended

December 31, 2007 December 31, 2007

Grant income - 101,400

Operating expenses:

Research and development 1,527,457 5,124,292

General and administrative 1,193,180 4,477,567

Total operating expenses 2,720,637 9,601,859

Loss from operations 2,720,637 9,500,459

Basic and diluted operating

loss per share (0.11) (0.56)

Interest income (net) 204,071 (802,336)

Net loss (2,516,566) (10,302,795)

Basic and diluted loss per share (0.10) (0.61)

Weighted-average common

shares outstanding 24,099,716 16,942,142


December 31, 2007

Cash and cash equivalents 16,233,464

Total assets 17,089,328

Stockholders' equity 15,199,931

SOURCE Nile Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Halozyme Therapeutics Reports Fourth Quarter and Year End 2007 Financial Results
2. Silence Therapeutics and AstraZeneca Announce Collaboration to Develop Novel Approaches for siRNA Drug Delivery
3. Proteon Therapeutics Receives European Patent Covering New Method of Dilating Arteries and Veins
4. Proteon Therapeutics Appoints Experienced Biopharmaceutical Executive, Gregory D. Phelps to its Board of Directors
5. Amicus Therapeutics Presents Positive Data from Phase 2 Clinical Trial of Plicera(TM) for Gaucher Disease
6. Oncolys BioPharma and Tacere Therapeutics Sign Strategic Alliance and License Agreement to Develop and Commercialize RNAi Hepatitis C Drug
7. Mercury Therapeutics, Inc: Lead Series of Indirect AMPK Activators Licensed to Makoto Life Sciences
8. Sirnaomics and GRL Establish Partnership for the Development of Two Multi-Targeted RNAi Therapeutics Products
9. Nile Therapeutics to Announce 2007 Fourth Quarter and Full Year Financial Results on Thursday, March 13, 2008
10. Halozyme Therapeutics Presents Favorable New Safety and Pharmacokinetic Data on rHuPH20 Enzyme Produced Via New Manufacturing Process at European Federation for Pharmaceutical Sciences
11. Alseres Pharmaceuticals Presents Inosine and Dopamine Transporter (DAT) Blocker Preclinical Data at the American Society for Experimental NeuroTherapeutics (ASENT) Conference
Post Your Comments:
(Date:12/1/2015)... Dec. 1, 2015 Frost & Sullivan ... This program addresses ways companies can innovate and ... --> ... --> ... as well as the disrupting factors altering the ...
(Date:12/1/2015)... ... December 01, 2015 , ... Park Systems , world ... scanning ion conductance microscopy module to Park NX10 that is the only product ... SICM benefits virtually all materials characterization that require measurements in liquid such as ...
(Date:12/1/2015)... December 1, 2015 Dr. Harry Lander , President of ... as Chief Science Officer and recruits five distinguished ... Lander , President of Regen, expands his role to include ... recruits five distinguished scientists to join advisory team ... expands his role to include serving as ...
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... Global ... and development stages of a new closed system for isolating adipose-derived stem cells. The ... vascular fraction (SVF) of adipose tissue. SVF is a component of the lipoaspirate obtained ...
Breaking Biology Technology:
(Date:10/29/2015)... 2015 NXTD ) ("NXT-ID" ... on the growing mobile commerce market and creator ... a leading marketplace to discover and buy innovative ... wallet on StackSocial for this holiday season.   ... "Company"), a biometric authentication company focused on the ...
(Date:10/27/2015)... -- In the present market scenario, security is one ... verticals such as banking, healthcare, defense, electronic gadgets, and ... secure & simplified access control and growing rate of ... bank accounts, misuse of users, , and so on. ... and smartphones are expected to provide potential opportunities for ...
(Date:10/27/2015)... Oct. 27, 2015 Synaptics Inc. (NASDAQ: SYNA ... that Google has adopted the Synaptics ® ClearPad ... to power its newest flagship smartphones, the Nexus 5X ... --> --> Synaptics ... provide strategic collaboration in the joint development of next ...
Breaking Biology News(10 mins):