SG&A expenses increased in the third quarter of 2007 versus the second
quarter of 2007 primarily due to costs associated with consolidating
operations into a single site.
Stock-based compensation recorded in the third quarter 2007 was a total
of $0.7 million, consisting of $0.2 million recorded in R&D expense and
$0.5 million recorded in SG&A expense. In the second quarter 2007 and
third quarter 2006, total stock-based compensation was an expense of
$0.7 million and $1.1 million, respectively.
-- Net loss for the third quarter of 2007 was $10.1 million. This compares
to a net loss of $9.5 million in the second quarter of 2007, and
$9.9 million in the third quarter of 2006. Net loss for the first nine
months of 2007 was $33.2 million, compared to a net loss of
$28.2 million for the first nine months of 2006.
-- Net loss per share applicable to common stockholders for the third
quarter of 2007 was ($0.22), compared to a loss per common share of
($0.21) in the prior quarter and ($0.33) in the third quarter of 2006.
Per share figures were computed on the basis of an average of
46.7 million shares outstanding in the third quarter of 2007,
45.3 million shares outstanding in the second quarter of 2007, and
30.3 million shares outstanding in the third quarter of 2006.
-- Cash and marketable securities decreased by $6.3 million during the
third quarter. Changes were composed of $10.0 million of operating
losses, $0.7 million in loan payments; offset by $2.2 million for non-
cash expenses and $2.2 million for working capital changes and other
-- The Balance Sheet at the end of the third quarter of 2007 reflected
$5.9 million of unrestricted cash, cash equivalents and marketable
securities, compared to $12.2 million as of Ju
|SOURCE MiddleBrook Pharmaceuticals, Inc.|
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