-- 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.|
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