Navigation Links
Spherix Reports 3rd Quarter Earnings
Date:11/13/2008

BETHESDA, Md., Nov. 13 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX) reported a net loss for the three and nine months ended September 30, 2008 of $1.7 million ($0.12 per share) and $4.8 million ($0.34 per share), respectively. Research and development and marketing costs related to the commercialization of Naturlose as a treatment for Type 2 diabetes were approximately $3.2 million for the nine month period ended September 30, 2008, compared to approximately $4.5 million for the same period in 2007. Included in the prior year's income from continuing operations was a $3.4 million tax benefit from the sale of the InfoSpherix subsidiary in August 2007. Revenue from the Health Sciences Consulting business continued its growth with a 19% increase between the second and third quarter of 2008.

"Patient recruitment for our Phase 3 clinical trial in India is off to a very encouraging start with our Contract Research Organizations reporting that 120 patients have been screened already, with a much higher enrollment rate than experienced in the U.S. portion of the trial," said Spherix's CFO and Treasurer, Robert Clayton.

For the Three Months For the Nine Months

Ended Sept. 30, Ended Sept. 30,

2008 2007 2008 2007

Revenue from

continuing operations $308,000 $59,000 $714,000 $63,000

(Loss) income from

continuing operations $(1,735,000) $327,000 $(4,848,000) $(3,655,000)

Income from

discontinued

operations $- $4,967,000 $- $4,913,000

Net (loss) income $(1,735,000) $5,294,000 $(4,848,000) $1,258,000

Net (loss) income per

share

Continuing operations $(0.12) $0.02 $(0.34) $(0.26)

Discontinued operations $- $0.35 $- $0.35

Net (loss) income

per share $(0.12) $0.37 $(0.34) $0.09

Certain statements contained herein are "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on October 10, 2007.

Spherix's mission is to create value and increase shareholder wealth through innovations that benefit our clients and the human condition. Spherix offers innovations in biotechnology, and provides technical and regulatory consulting services to biotechnology and pharmaceutical companies.

Spherix's Internet address is http://www.spherix.com


'/>"/>
SOURCE Spherix Incorporated
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Spherix Transfers Stock Listing to Nasdaq Capital Market
2. Spherix Receives Nasdaq Letter Extending Minimum Bid Price Compliance Period
3. Spherix Receives NASDAQ Bid Price Deficiency Letter
4. Spherix Reports 1st Quarter Earnings
5. Spherix Holds Annual Shareholders Meeting
6. Spherix Hires Key Employees
7. Spherix Reports 2007 Financial Results
8. Spherix Reports 3rd Quarter Earnings
9. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology
10. Cardiogenesis Reports Third Quarter 2008 Results
11. AEterna Zentaris Reports Third Quarter 2008 Financial and Operating Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... ... 12, 2017 , ... DuPont Pioneer and recently formed CasZyme, ... into a multiyear collaboration to identify and characterize novel CRISPR-Cas nucleases. The goal ... editing across all applications. , Under the terms of the agreement, Pioneer will ...
(Date:10/12/2017)... , ... October 12, 2017 ... ... has launched Rosalind™, the first-ever genomics analysis platform specifically designed for life ... Named in honor of pioneering researcher Rosalind Franklin, who made a major ...
(Date:10/11/2017)... ... October 11, 2017 , ... ComplianceOnline’s Medical Device Summit is back ... 8th June 2018 in San Francisco, CA. The Summit brings together current and former ... CEOs, board directors and government officials from around the world to address key issues ...
(Date:10/11/2017)... ... October 11, 2017 , ... Disappearing forests and increased emissions are the ... million people each year. Especially those living in larger cities are affected by air ... one of the most pollution-affected countries globally - decided to take action. , “I ...
Breaking Biology Technology:
(Date:4/19/2017)... , April 19, 2017 ... its vendor landscape is marked by the presence of ... is however held by five major players - 3M ... these companies accounted for nearly 61% of the global ... leading companies in the global military biometrics market boast ...
(Date:4/13/2017)... MONICA, Calif. , April 13, 2017 ... New York will feature emerging and evolving ... Summits. Both Innovation Summits will run alongside the expo ... of speaker sessions, panels and demonstrations focused on trending ... coast,s largest advanced design and manufacturing event will take ...
(Date:4/11/2017)... Research and Markets has announced the addition ... their offering. ... tracking market to grow at a CAGR of 30.37% during the ... 2017-2021, has been prepared based on an in-depth market analysis with ... its growth prospects over the coming years. The report also includes ...
Breaking Biology News(10 mins):