Nventa also reported a net loss of $2,319,000, or $0.01 per share, for the three months ended December 31, 2007, compared to a net loss of $2,043,000, or $0.02 per share, for the fourth quarter of 2006. The $276,000 increase in the net loss in the fourth quarter of 2007, compared to 2006, is principally related to a $200,000 increase in foreign exchange losses and to restructuring expenses incurred during 2007. These expense increases were partially offset by an increase in interest income of $124,000 during the fourth quarter of 2007, as a result of receiving the proceeds from the Company's two public equity offerings in 2007.
The Company had cash and cash equivalents of $12,859,000 as of December 31, 2007, compared to $2,972,000, as of December 31, 2006.
About New HspE7
The Company's lead candidate, new HspE7 (HspE7 + Poly-ICLC), is a novel
therapeutic candidate intended for the treatment of precancerous and
cancerous lesions caused by the human papillomavirus (HPV), one of the most
common sexually transmitted diseases in the world. New HspE7 contains the
novel CoVal(TM) fusion protein, HspE7 co-administered with the adjuvant
Poly-ICLC, a toll-like receptor-3 (TLR3) agonist. An adjuvant is a
substance added to vaccines to improve immune responses against target
antigens. HspE7 is derived from Nventa's proprietary CoVal(TM) fusion
platform, which uses recombinant DNA technology to covalently fuse stress
proteins to target antigens, thereby stimulating cellular immune responses
to the target antigens. Nventa is developing new HspE7 for multiple
|SOURCE Nventa Biopharmaceuticals Corporation|
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