-- Total revenue, resulting entirely from net Keflex product sales, was
$2.4 million in the first quarter of 2008, compared to revenue of $2.9
million in the prior quarter, and $1.8 million for the first quarter of
2007. Increased product sales in the first quarter versus the prior
year were mainly attributable to growth in sales of the Company's
Keflex 750 mg strength capsules.
-- Operating expenses. Research and development expenses, which primarily
consist of salaries, stock-based compensation, and related expenses for
personnel and the costs of the Company's clinical trials and research
initiatives, were $3.7 million in the first quarter of 2008, compared
to $3.5 million in the previous quarter and $7.5 million in the first
quarter of 2007. Reduced R&D expenses in the first quarter compared to
the prior year resulted mainly from the elimination of expenses
associated with the Company's completed MOXATAG clinical trial.
Selling, general and administrative (SG&A) expenses totaled $4.8
million in the first quarter of 2008, down from $5.6 million in the
fourth quarter of 2007, and $7.7 million in the first quarter of 2007.
First quarter SG&A costs declined due to lower third-party costs
associated with the reduced size of Company's contract sales force.
-- Loss from operations for the first quarter of 2008 was $6.7 million,
down from $6.9 million in the prior quarter and $13.7 million in the
first quarter of last year. Reduced operating los
|SOURCE MiddleBrook Pharmaceuticals, Inc.|
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