Navigation Links
Nile Therapeutics Reports 2008 First Quarter Financial Results

SAN FRANCISCO, May 15 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (Nasdaq: NLTX), today announced financial results for the first quarter ended March 31, 2008.

Net operating loss for the first quarter of 2008 was $3.1 million, or $0.13 per share, compared to $0.8 million, or $0.05 per share, for the first quarter of 2007. Weighted average shares outstanding for the first quarter for 2008 and 2007 were 24.1 million and 13.8 million, respectively.

Nile reported no revenue during the first quarter of 2008 and 2007. Research and development expenses were $2.0 million for the first quarter of 2008 compared to $0.6 million for the first quarter of 2007. General and administrative expenses were $1.2 million for the first quarter of 2008 compared to $0.2 million for the first quarter of 2007.

At March 31, 2008, Nile had cash and cash equivalents of $13.66 million compared to $16.23 million on December 31, 2007. This $2.57 million decrease occurred 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

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 Annual Report on Form 10-KSB, which was filed with the Securities and Exchange Commission on March 27, 2008. 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.


(A Development Stage Company)


Three Months Ended Three Months Ended

March 31, 2008 March 31, 2007

Grant revenue - -

Operating expenses:

Research and development 1,978,184 558,248

General and administrative 1,198,339 156,680

Total operating expenses 3,176,523 714,928

Loss from operations (3,176,523) (714,928)

Basic and diluted operating loss

per share (0.13) (0.05)

Other income (expense)

Interest income 149,436 16,688

Interest expense (137) (59,178)

Other expense (31,713) -

Total other income (expense) 117,586 (42,490)

Net loss (3,058,937) (757,418)

Basic and diluted loss per share (0.13) (0.05)

Weighted-average common

shares outstanding 24,099,716 13,794,132


March 31, 2008 December 31, 2007

Cash and cash equivalents 13,659,576 16,233,464

Total assets 14,486,641 17,089,328

Stockholders' equity 13,107,902 15,199,932

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

Related biology technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. DJO Incorporateds Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review
3. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation
4. Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway
5. Amsterdam Molecular Therapeutics to Release H1 2007 Results on August 29, 2007
6. Nektar Therapeutics Appoints Tim Harkness as Chief Financial Officer
7. ExonHit Therapeutics: Allergan and ExonHits First Collaboration Compound to Begin Human Clinical Trials
8. Cell Therapeutics, Inc. Takes Corrective Actions in Response to Nasdaq Determination
9. Amsterdam Molecular Therapeutics Reports Half Year Results 2007
10. Nektar Therapeutics Appoints Lutz Lingnau as New Board Member
11. Anesiva Grants Specific-Use License of Its Needle-Free Drug Delivery Technology to Particle Therapeutics for Diabetes Drug
Post Your Comments:
(Date:6/23/2016)... ... June 23, 2016 , ... In a new case report published today ... a patient who developed lymphedema after being treated for breast cancer benefitted from an ... paradigm for dealing with this debilitating, frequent side effect of cancer treatment. ...
(Date:6/23/2016)... 2016 Andrew D ... Published recently in ... from touchONCOLOGY, Andrew D Zelenetz , discusses ... care is placing an increasing burden on healthcare ... therapies. With the patents on many biologics expiring, ...
(Date:6/23/2016)... ... June 23, 2016 , ... Regulatory Compliance Associates® Inc. (RCA), ... free webinar on Performing Quality Investigations: Getting to Root Cause. ... no charge. , Incomplete investigations are still a major concern to the Regulatory ...
(Date:6/23/2016)... PUNE, India , June 23, 2016 /PRNewswire/ ... culture media market research report to its pharmaceuticals ... company profiles, product details and much more. ... market spread across 151 pages, profiling 15 companies ... now available at . ...
Breaking Biology Technology:
(Date:4/26/2016)... LONDON , April 26, 2016 ... a product subsidiary of Infosys (NYSE: ... to integrate the Onegini mobile security platform with ... ) The integration will ... to access and transact across channels. Using this ...
(Date:4/15/2016)... , April 15, 2016 ... "Global Gait Biometrics Market 2016-2020,"  report to their ... ) , ,The global gait biometrics market ... 13.98% during the period 2016-2020. Gait ... which can be used to compute factors that ...
(Date:3/31/2016)... 2016  Genomics firm Nabsys has completed a financial ... Bready , M.D., who returned to the company in ... leadership team, including Chief Technology Officer, John Oliver ... Nurnberg and Vice President of Software and Informatics, ... Dr. Bready served as CEO of Nabsys from ...
Breaking Biology News(10 mins):