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iCo Therapeutics Announces Second Quarter 2014 Financial Results
Date:8/29/2014

nsive loss of $1,617,040 (loss per share of $0.02) for the six months ended June 30, 2014 compared to a total comprehensive loss of $2,886,831 (loss per share of $0.05) for the six months ended June 30, 2013, representing a decrease of $1,269,791 in comprehensive loss.  The decrease in net comprehensive loss is primarily a result of a $259,755 increase in the carrying value of our investment in Immune Pharmaceuticals, as well as a decrease in expenses associated with the iDEAL trial.

Research and development expenses were $1,026,287 for the six months ended June 30, 2014 compared to $2,189,830 for the six months ended June 30, 2013, representing a reduction of $1,163,543. This decrease in research and development expenses is based mainly on reduced expenses associated with the iDEAL study.

For the six months ended June 30, 2014 general and administrative expenses were $935,374 compared to $1,166,480 for the six months ending June 30, 2013, representing a decrease of $231,106, primarily as a result of reduced stock based compensation expense and professional fees.

Liquidity and Outstanding Share Capital
As at June 30, 2014, we had cash and cash equivalents and short-term investments of $6,480,200. 

As at August 29, 2014, we had an unlimited number of authorized common shares with 84,457,713 common shares issued and outstanding.

For complete financial results, please see our filings at www.sedar.com.

About iCo Therapeutics
iCo Therapeutics in-licenses and redefines existing drug candidates or generics by employing reformulation and delivery technologies for new or expanded use indications. The Company has exclusive worldwide rights to two drug candidates - iCo-007 for Diabetic Macular Edema (DME) and iCo-008 for other sight-threatening diseases. iCo-007 is in Phase 2 clinical studies for DME. With Phase 2 clinical history, iCo-008 is targeted for the treatment of kerato
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