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)... ... October 12, 2017 , ... BioMedGPS announces expanded coverage of ... newest module, US Hemostats & Sealants. , SmartTRAK’s US Market for Hemostats and ... synthetic sealants and biologic sealants used in surgical applications. BioMedGPS estimates the market ...
(Date:10/11/2017)... ... October 11, 2017 , ... ... in its endogenous context, enabling overexpression experiments and avoiding the use of exogenous ... RNA guides is transformative for performing systematic gain-of-function studies. , This complement ...
(Date:10/11/2017)... 11, 2017  VMS BioMarketing, a leading provider of patient ... Clinical Nurse Educator (CNE) network, which will launch this week. ... among health care professionals to enhance the patient care experience ... and other health care professionals to help women who have ... ...
(Date:10/11/2017)... , ... October 11, 2017 , ... ... (FDA) has granted orphan drug designation to SBT-100, its novel anti-STAT3 (Signal Transducer ... treatment of osteosarcoma. SBT-100 is able to cross the cell membrane and bind ...
Breaking Biology Technology:
(Date:6/30/2017)... Today, American Trucking Associations announced Seeing ... and eye tracking software, became the newest member ... "Artificial intelligence and advanced sensing algorithms ... driver,s attentiveness levels while on the road.  Drivers ... fatigue and prevent potential accidents, which could lead ...
(Date:5/16/2017)... N.J. , May 16, 2017  Veratad Technologies, ... provider of online age and identity verification solutions, announced ... K(NO)W Identity Conference 2017, May 15 thru May 17, ... Regan Building and International Trade Center. ... the globe and in today,s quickly evolving digital world, ...
(Date:4/19/2017)... York , April 19, 2017 ... as its vendor landscape is marked by the presence ... market is however held by five major players - ... Together these companies accounted for nearly 61% of the ... the leading companies in the global military biometrics market ...
Breaking Biology News(10 mins):