Navigation Links
Immtech Reports Fiscal Year End 2008 Results
Date:6/18/2008

NEW YORK, June 18 /PRNewswire-FirstCall/ -- Immtech Pharmaceuticals, Inc. (Amex: IMM) today announced results for its fiscal year ended March 31, 2008.

For the fiscal year ended March 31, 2008, revenues increased to $9,717,000, as compared to $4,318,000 for the fiscal year ended March 31, 2007. The increase was primarily attributable to revenues from initial payments on license agreements recognized when the pafuramidine program was terminated. Loss from operations for the year ended March 31, 2008 was $10,952,000, as compared to a loss from operations of $11,662,000 for the year ended March 31, 2007. The loss was largely due to expenses related to the Phase III clinical trials during the year. Net loss attributable to common stockholders for the year ended March 31, 2008 was $11,042,000, or $0.71 per share, compared to a loss of $11,683,000, or $0.82 per share, in the previous year.

At March 31, 2008, unrestricted cash and cash equivalents were $5,996,000 as compared to $12,462,000 at March 31, 2007. For the same periods, restricted funds on deposit were $3,776,000 and $3,119,000, respectively.

The Company will hold a conference call on June 25th, 2008 at 2:00 P.M. (EDT) to present an update on Company progress and results for fiscal year end 2008. The User Access Code is # 52522128. Investors and interested parties in the U.S. are invited to join the call by dialing (888) 220-6305 and callers outside the U.S. should call (706) 902-3163. Please call no later than 10 minutes prior to the scheduled start of the call to register. Information to access a recording of the conference call will be available starting on June 26th from the Immtech Pharmaceuticals web site (http://www.immtechpharma.com).

About Immtech Pharmaceuticals, Inc.

Immtech is a pharmaceutical company focused on the development and commercialization of new drugs to treat infectious diseases. Immtech has a well defined, expanding library of compounds targeting Hepatitis C, drug-resistant Gram-positive bacteria, fungal infections and other serious diseases. It is expanding its targeted markets by applying its proprietary pharmaceutical platform to treat a range of disorders. Immtech holds exclusive worldwide licenses to certain patents, patent applications and technology for products derived from its proprietary pharmaceutical platform. For additional information, please visit the Company's website at http://www.immtechpharma.com

"Safe Harbor" Statement under the Private Securities Reform Act of 1995: Statements in this press release regarding Immtech Pharmaceuticals, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Actual results could differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in Immtech's annual report on Form 10-K for the fiscal year ended March 31, 2008 being filed with the SEC on the date hereof, and in its other SEC filings and include, but are not limited to: (i) Immtech's ability to obtain additional funds; (ii) Immtech's ability to manage its remaining resources; (iii) Immtech's ability to continue as a going concern; (iv) Immtech's ability to retain key personnel; (v) the ability of Immtech's scientists and collaborators to discover new compounds; (vi) the availability of additional research grants; (vii) Immtech's ability to obtain regulatory approval of its drugs candidates; (viii) the success of Immtech's clinical trials; (ix) dependence upon and contractual relationship with partners; (x) Immtech's ability to protect its intellectual property; and (xi) competition and alternative technologies.

In addition, Immtech does not undertake any obligation, and specifically disclaims any obligation, to publicly update or revise forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

3 Months

Ended Year Ended

March 31, March 31,

2008 2007 2008 2007

REVENUES $ 6,025 $ 1,339 $ 9,717 $ 4,318

OPERATING INCOME

(LOSS) $ 627 $ (3,216) $ (10,952) $ (11,662)

NET INCOME (LOSS)

TO COMMON

SHAREHOLDERS $ 560 $ (3,219) $ (11,042) $ (11,683)

NET LOSS PER

COMMON SHARE

BASIC AND DILUTED

Net Income $ 0.03 $ (0.22) $ (0.71) $ (0.82)

AVERAGE COMMON

SHARES OUTSTANDING

Basic and diluted 16,946,251 14,782,004 15,477,463 14,207,048


'/>"/>
SOURCE Immtech Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Immtech Announces Results From Hepatitis C Discovery Program
2. Immtech Announces Update on Business Operations
3. Immtech Investor Conference Call Scheduled for February 22, 2008
4. Immtech Investor Conference Call Scheduled for January 3, 2008, at 1 PM
5. Immtech Announces Pafuramidine (DB289) Program on Clinical Hold
6. Immtech Completes Malaria Prevention Trial
7. PreMD Reports Further Positive Meetings with the FDA
8. Herley Reports Third Quarter Results
9. Hawkins, Inc. Reports Fourth Quarter, Fiscal 2008 Results
10. China Medical Technologies Reports Fourth Quarter and Full Year Financial Results
11. Social Security Statement Advises Seniors to Consider Private Long-Term Care Insurance, LTC Agency Reports; Medicare Wont Cover It
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/6/2016)... ... May 06, 2016 , ... US Sports Camps has ... camp held at Oregon State University this summer. Employing world-class rugby figures, including former ... all skill levels with training on key fundamentals, match play, fitness and more. , ...
(Date:5/6/2016)... ... May 06, 2016 , ... Bluvault ( Bluvault Inc. ) ... for global clients of Coupa ( Coupa Software ) and other Cloud software, ... a key component in the suite of innovative implementation services offered by Bluvault. ...
(Date:5/6/2016)... ... 2016 , ... Fat-Freezing, which is what today’s popular technology ... most popular among body sculpting options, according to a new survey of dermatologic ... Richard Buckley, medical director of MilfordMD Cosmetic Dermatology Surgery & Laser Center. Dr. ...
(Date:5/6/2016)... DC (PRWEB) , ... May 06, 2016 , ... Online ... sizes and are changing the game for traditional brokers and health plans. “ The ... upcoming May 17 webinar from Atlantic Information Services, Inc. (AIS), will offer an accurate ...
(Date:5/6/2016)... ... May 06, 2016 , ... From the Speaker Podium to the ... will share its insights on managing Customers Engagement at SpeechTek 2016 Event, taking place ... Technology will deliver a Presentation on “5 Customer Engagement Strategies to improve ...
Breaking Medicine News(10 mins):
(Date:5/6/2016)... DIEGO , May 6, 2016 Zymo Research ... Urine Kit at the American Urological Association,s Annual Meeting, ... that extracts and isolates total DNA from a large volume ... community at the company,s booth #5151 at the ... Urine Conditioning Buffer ™ (UCB ™ ) ...
(Date:5/6/2016)... India , May 6, 2016 ... Devices Pipeline Assessment, 2016" to its database. The ... with comparative analysis of the products at various ... involved in the pipeline product development. It also ... includes trial phase, trial status, trial start and ...
(Date:5/6/2016)... , May 6, 2016  Ampronix is excited to announce that we now stock ... 3MOS. First launched last November, the UHD camera was released to the consumer market in ... ... ... The finely crafted GP-UH532 camera is the ...
Breaking Medicine Technology: