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MiddleBrook Pharmaceuticals Reports First Quarter 2008 Results

tives will result in any agreements or transactions, or that, if completed, any agreements or transactions will be successful or on attractive terms. The Company does not intend to disclose developments with respect to this process unless and until the evaluation of strategic alternatives has been completed.


-- 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.
Copyright©2008 PR Newswire.
All rights reserved

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