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Synthetic Biologics Reports Second Quarter 2014 Financial Results and Operational Highlights
Date:8/14/2014

that near-term calendar events include a planned September 12th presentation at the 2014 Joint Americas and European Committees for Treatment and Research in Multiple Sclerosis Meeting (ACTRIMS-ECTRIMS) in Boston of additional Trimesta MS data, including important new findings in cognitive function, and a Company-sponsored IBS Investor Day planned for September 16th in NYC which will include clinical presentations by Mark Pimentel, M.D., FRCP(C) of Cedars-Sinai Medical Center, the lead investigator of our 505(b)(2) compound, SYN-010 for constipation-predominant irritable bowel syndrome (C-IBS).

Three and Six Months Ended June 30, 2014 Financial ResultsGeneral and administrative expenses were $1.8 million and $2.9 million for the three and six months ended June 30, 2014, respectively, compared to $1.3 million and $2.4 million for the same periods in 2013. These increases of 44% and 23%, respectively, are primarily the result of supplemental compensation granted by the Board of Directors to executive officers and increased stock-based compensation expense. Non-cash charges related to stock-based compensation were $645,000 and $899,000 for the three and six months ended June 30, 2014, respectively, compared to $298,000 and $652,000 for the same periods in 2013.

Research and development expenses increased to $2.8 million and $5.6 million for the three and six months ended June 30, 2014, respectively, compared to $1.2 million and $2.3 million, for the same periods in 2013. These increases of 136% and 139%, respectively, are primarily the result of increased program costs associated with expanded research, development and manufacturing activities within our anti-infective pipeline, including the Company's C. diff, C-IBS and Pertussis programs. Non-cash charges related to stock-based compensation were $210,000 and $318,000 for the three and six months ended June 30, 2014, respectively, compared to $109,000 and $212,000 for the sa
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SOURCE Synthetic Biologics, Inc.
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