SAN DIEGO, CA, Nov. 7 /PRNewswire-FirstCall/ - Nventa Biopharmaceuticals Corporation (TSX: NVN) announced today financial results for the third quarter ended September 30, 2007. All amounts, unless specified otherwise, are in Canadian dollars.
Nventa reported a net loss of $3.1 million or $0.01 per share, for the three months ended September 30, 2007, compared to a net loss of $2.3 million, or $0.03 per share, for the same period in 2006. For the nine months ended September 30, 2007, the Company reported a net loss of $10.1 million, or $0.05 per share, compared to a net loss of $8.0 million, or $0.10 per share, for the same period in 2006. The Company's net loss for the nine months ended September 30, 2007 included approximately $0.8 million in one-time corporate restructuring expenses.
The Company had cash and cash equivalents of $14.3 million as of September 30, 2007.
RECENT NVENTA HIGHLIGHTS
- Initiated and dosed the first cohort of patients in the Company's
HspE7 Phase 1 clinical trial in cervical intraepithelial neoplasia;
- Raised $8.6 million in additional capital through a Short Form
- Strengthened management team with addition of David Duncan Jr.,
Vice President of Finance;
- Assembled distinguished group of international experts for Clinical
and Scientific Advisory Board;
- Presented additional data at the 24th International Papillomavirus
Conference and Clinical Workshop that demonstrate that new HspE7
promotes more potent immune responses;
- Granted new U.S. patent for Nventa's CoVal(TM) fusions covering their
use in patients with human papillomavirus (HPV)-related diseases;
- Published data in Clinical and Vaccine Immunology demonstrating
ability of new HspE7 to elicit long-lasting tumor protection in vivo,
suggesting that HspE7 may have utility in (HPV)-infected
|SOURCE Nventa Biopharmaceuticals Corporation|
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