SG&A expenses increased by $0.2 million, or 4%, to $5.0 million for the six-month period ended June 30, 2008, from $4.8 million for the same period a year ago. The increase was primarily due to a $0.2 million severance expense related to the departure of our former chief financial officer in April 2008. SG&A expenses for the six-month period ended June 30, 2008 included non-cash, share-based compensation expenses amounting to $0.5 million, compared to $0.7 million for the same period a year ago.
Interest and other income amounted to $0.6 million for the six-month period ended June 30, 2008, compared to $1.2 million for the same period a year ago.
Balance Sheet Highlights
As of June 30, 2008, the Company had cash, cash equivalents and short-term investments in securities totaling $22.1 million. Stockholders' equity amounted to $19.7 million as of June 30, 2008.
Conference Call and Webcast
ADVENTRX management will host a conference call with simultaneous
webcast to discuss second quarter results, provide a corporate update and
take investors' questions tomorrow at 1:30 p.m. Pacific/ 4:30 p.m. Eastern
Time. Evan M. Levine, Chief Executive Officer and President, and Mark N.K.
Bagnall, Chief Financial Officer and Executive Vice President, are
scheduled to lead the call and will be joined by other members of the
Company's senior management. The conference call may be accessed by dialing
(888) 215-7027 for domestic callers and (913) 312-0654 for international
callers. The webcast will be available live via the Internet by accessing
|SOURCE ADVENTRX Pharmaceuticals, Inc.|
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