associated with being a public company.
Employee stock-based compensation expense recorded in the fourth
quarter of 2007 was $5.2 million. Of the total $5.2 million of
non-cash charges, $1.0 million was recorded in R&D expenses and
$4.2 million was recorded in G&A expenses. In the third quarter of
2007 and the fourth quarter of 2006, total stock-based compensation was
$5.2 million and $1.6 million, respectively. For the full year of
2007, total stock-based compensation was $19.5 million, up from
$6.1 million in the prior year. The increase in stock-based
compensation is primarily the result of the higher fair value of
options granted during 2007 compared to options granted in prior
-- Net loss for the fourth quarter of 2007 was $20.7 million. This
compares to a net loss of $21.9 million in the third quarter of 2007,
and $11.9 million in the fourth quarter of 2006. For the full year of
2007, net loss was $74.1 million, up from $63.5 million for the full
year of 2006.
-- Net loss per common share for the fourth quarter of 2007 was $0.78,
compared to $0.82 in the third quarter of 2007 and $0.54 in the fourth
quarter of 2006. For the full year of 2007, net loss per common share
was $2.81, compared to $3.97 in the full year of 2006.
-- Cash and marketable securities decreased by $16.2 million during the
fourth quarter. Changes included $20.7 million of net losses and
decreases in accrued R&D expenses and accounts payable of $2.5 million,
offset by $5.3 million in non-cash depreciation, amortization, and
stock-based compensation expenses, decreases in prepaid expenses of
$1.6 million and net decreases in other working capital of
-- Vanda's cash, cash equivalents, an
|SOURCE Vanda Pharmaceuticals Inc.|
Copyright©2008 PR Newswire.
All rights reserved