Therapeutic DNA Vaccine Company Inovio Biomedical Reports Second Quarter 2008 Financia...(d June 30 2008 was $459000 and $919000 r...),Health

Date:8/7/2008

d June 30, 2008 was $459,000 and $919,000, respectively, as compared to $286,000 and $534,000, respectively, for the same periods in 2007. The increase in revenue under collaborative research and development arrangements during the three and six months ended June 30, 2008, compared with the same periods in 2007, was primarily due to an increase in Wyeth billings based on our collaborative agreement, offset by slightly lower Merck collaborative research billings. Billings from research and development work performed pursuant to the Wyeth and Merck agreements are recorded as revenue when the related research expenditures are incurred.

There was no grant and miscellaneous revenue for the three and six months ended June 30, 2008, compared with $0 and $21,000, respectively, for the three and six months ended June 30, 2007. The decrease in grant and miscellaneous revenue was due to no revenue being recognized from the U.S. Army grant due to completion of the defined project.

Operating Expenses

Research and development expenses for the three and six months ended June 30, 2008 were $1.7 million and $3.3 million, respectively, as compared to $2.9 million and $5.4 million for the three and six months ended June 30, 2007, respectively. The decrease in research and development expenses for the three and six months ended June 30, 2008, compared with the same periods in 2007, was primarily due to a decrease in SECTA clinical trial expenses associated with patient enrollment, clinical site costs, data collection and monitoring costs, and costs related to the use of outside Clinical Research Organizations ("CROs") and Clinical Research Associates ("CRAs"). Some of this decrease was offset by higher costs associated with the expansion of our in-house engineering and research resources relating to DNA vaccine research activities.

General and administrative expenses, which include business development expenses and amortiz
'/>"/>

Source: PRWeb Copyright©2008 Vocus, Inc. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7 8 9 10
Related medicine news :

1. Stiefel Laboratories Completes Acquisition of Barrier Therapeutics
2. Nektar Therapeutics Announces Second Quarter 2008 Results
3. Nektar Therapeutics Names Randall Moreadith, M.D., Ph.D. Senior Vice President, Drug Development and Chief Development Officer
4. InteKrin Therapeutics Announces $20 Million Series C Financing
5. Transition Therapeutics Announces No Material Change
6. Halozyme Therapeutics to Hold Pipeline Update Conference Call on August 8
7. DIA/AAPS Co-Sponsored Conference to Examine the Immunogenicity of Therapeutic Proteins
8. Cell Therapeutics, Inc. Announces $12 Million Equity Line of Credit
9. Stiefel Laboratories, Inc. Announces Expiration of Hart-Scott-Rodino Waiting Period Relating to its Proposal to Acquire Barrier Therapeutics, Inc.
10. Neurotherapeutics presents special issue on new treatments for Alzheimers disease
11. Horizon Therapeutics Names Timothy P. Walbert as President and CEO