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Advanced Life Sciences Announces First Quarter 2009 Financial Results and Financial Outlook
Date:5/12/2009

CHICAGO, May 12 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced its financial results for the first quarter ended March 31, 2009.

The net loss allocable to common shareholders for the three months ended March 31, 2009 was $2.3 million or ($0.06) per share compared to a net loss allocable to common shareholders of $3.6 million or ($0.09) per share for the three months ended March 31, 2008. The decrease in the net loss is due to decreased costs involved in the clinical development of the Company's lead compound, cethromycin.

The company ended the first quarter of 2009 with cash and cash equivalents totaling $0.5 million. Cash used during the quarter was approximately $1.6 million.

"Our efforts in the first quarter were focused on preparing for the June 2nd FDA advisory committee meeting which will review the cethromycin New Drug Application," said Michael T. Flavin, Ph.D., chairman and chief executive officer of Advanced Life Sciences. "We look forward to the opportunity to present the FDA panel with a compelling rationale for recommending the approval of cethromycin in the treatment of community acquired pneumonia."

Operating Expense Analysis

  • Research and development expenses were $0.9 million for the three months ended March 31, 2009 compared to $1.9 million for the three months ended March 31, 2008.
  • Selling, general and administrative expenses totaled $1.5 million compared to $1.7 million for the first quarter of last year.

First Quarter Achievements

  • Received notice from the U.S.
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SOURCE Advanced Life Sciences Holdings, Inc.
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