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:6/22/2017)... , ... June 22, 2017 , ... ... announced the release of Limfinity® version 6.5, a content-packed update to the Limfinity® ... to gain a larger and more diverse base of customers among labs and ...
(Date:6/20/2017)... 2017  Kibow Biotech Inc., a pioneer in developing ... of a new patent covering a unique method for ... Patent and Trademark Office on May 23 rd ... of Bio award in 2014 in San ... approaches to chronic disease. Renadyl™, the first and only ...
(Date:6/19/2017)... ... 2017 , ... EDETEK, Inc., a clinical technology company focused ... two new additions of its award-winning cloud-based platform CONFORM™: Information Hub and Clinical ... Annual Meeting in Chicago, IL, June 19-22, 2017. , “Modern clinical trials use ...
(Date:6/16/2017)... ... 16, 2017 , ... CTNext , Connecticut’s go-to resource for entrepreneurial support, ... LOFT at Chelsea Piers in Stamford. , Nine finalists, all of whom are Connecticut-based ... an opportunity to secure $10,000 awards to help support business growth. The winners included:, ...
Breaking Biology Technology:
(Date:4/17/2017)... MELBOURNE, Florida , April 17, 2017 ... security technology company, announces the filing of its 2016 Annual Report ... Securities and Exchange Commission. ... Report on Form 10-K is available in the Investor Relations section ... well as on the SEC,s website at http://www.sec.gov . ...
(Date:4/11/2017)... , Apr. 11, 2017 Research and Markets ... 2017-2021" report to their offering. ... The global eye tracking market to grow at a CAGR ... Global Eye Tracking Market 2017-2021, has been prepared based on an ... the market landscape and its growth prospects over the coming years. ...
(Date:4/5/2017)...  The Allen Institute for Cell Science today announces ... portal and dynamic digital window into the human cell. ... application of deep learning to create predictive models of ... a growing suite of powerful tools. The Allen Cell ... publicly available resources created and shared by the Allen ...
Breaking Biology News(10 mins):