NEW YORK, Feb. 9 /PRNewswire-FirstCall/ -- Immtech Pharmaceuticals, Inc. (NYSE Alternext: IMM) today announced results for its fiscal third quarter ended December 31, 2008.
For the three months ended December 31, 2008, revenues were $563,000, as compared to $1,835,000 for the three months ended December 31, 2007. The decrease was primarily attributable to a reduction in revenues from a research and testing agreement. Loss from operations for the three months ended December 31, 2008 was $1,886,000, as compared to a loss from operations of $5,305,000 for the three months ended December 31, 2007. Net loss attributable to common stockholders for the three months ended December 31, 2008 was $1,995,000, or $0.12 per share, compared to a loss of $5,336,000, or $0.34 per share, in the previous year.
At December 31, 2008, unrestricted cash and cash equivalents were $914,000 as compared to $5,996,000 at March 31, 2008. For the same periods, restricted funds on deposit were $504,000 and $3,776,000, respectively.
The Company will hold a conference call on Wednesday, February 18, 2009 to present an update on the Company's progress and results for the fiscal third quarter of 2009. Information will be provided for the dial in procedure on a later press release.
About Immtech Pharmaceuticals, Inc.
Immtech Pharmaceuticals, Inc. and subsidiaries (a development stage enterprise) is focused on global opportunities in the healthcare sector and opportunities in China. Immtech aims to apply its established expertise and other assets in both new drug sales and enhanced healthcare-related services, including research and information-providing services, for developed and developing countries. For additional information, please visit the Company's website at http://www.immtechpharma.com.
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