Second Quarter 2009 Financial Results
License and collaboration revenue for the second quarter of 2009 increased 63.5% to $2.3 million from $1.4 million for the second quarter of 2008. License and collaboration revenue consists of the amortization of the upfront technology access fees previously paid by our corporate partners, and reimbursements for the funding of research and development activities, and payments for milestones achieved.
The net loss for the second quarter of 2009 was $0.3 million, or $0.01 per share, compared to a net loss of $2.4 million, or $0.11 per share, reported for the second quarter of 2008.
Research and development expenses for the quarter ended June 30, 2009 totaled $1.4 million, compared to $2.4 million for the quarter ended June 30, 2008. The decrease was due to budget reductions at year end 2008 resulting in decreased headcount, and delayed research, development, and clinical expenses.
General and administrative expenses for the quarter ended June 30, 2009 were $1.2 million, compared to $1.6 million in the comparable 2008 period. Employee costs related to general and administrative expenses decreased as a result of staff reductions at year end 2008. Professional services costs increased primarily as a result of increased Sarbanes-Oxley implementation and year end audit costs.
About NovaBay Pharmaceuticals, Inc.
NovaBay Pharmaceuticals is a mid-stage biopharmaceutical company focused on developing its proprietary and patented Aganocide((R)) compounds, first-in-class, novel, synthetic anti-infective product candidates that are bioequivalent to the active antimicrobial molecules generated within white blood cells to treat and prevent a wide range of infections without causing resistance. NovaBay has internal development programs aimed at addressing hospital and respiratory infecti
|SOURCE NovaBay Pharmaceuticals, Inc.|
Copyright©2009 PR Newswire.
All rights reserved