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MiddleBrook Pharmaceuticals Reports Third Quarter 2007 Results

ts 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

$3.1 million in the third quarter of 2007, up from revenue of

$2.7 million in the prior quarter, and $2.4 million for the third

quarter of 2006. Revenue for the quarter included $1.8 million that

had been deferred in the previous quarter, as well as one month's

actual sales in the quarter as the company resumed shipments of product

in September upon completion of relabeling. Revenue during the first

nine months of 2007 was $7.6 million, up from revenue of $3.6 million

during the first nine months of 2006. Increased product sales were

mainly attributable to the Company's Keflex 750 mg strength capsules

which were launched during the third quarter of 2006.

-- Operating expenses. Third quarter research and development expenses,

primarily consisting of salaries, stock-based compensation, and related

expenses for personnel and the costs of the Company's clinical trials

and research initiatives, were $5.5 million, compared to $5.4 million

in the previous quarter and $5.7 million in the third quarter of 2006.

Additional costs of $0.8 million were incurred in the third quarter as

the Company consolidated operations into a single site, but these were

offset by lower personnel costs and reduced spending on developing the

Company's amoxicillin manufacturing facility.

Selling, general and administrative (SG&A) expenses totaled

$6.5 million in the third quarter of 2007, up from $6.3 million in the

second quarter of 2007, and $6.1 million in the third quarter of 20

SOURCE MiddleBrook Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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