Corporate Shared Services (CSS)
CSS costs associated with finance, IT, HR, business development and administration activities totaled $7.8 million for the three months ending September 29, 2007, compared to $8.4 million for the third quarter in 2006. This decrease reflects our ongoing efforts to lower infrastructure costs. Current period expenses include $1.5 million of legal and other professional fees related to the anticipated sale of the Biologics business unit announced on September 11, 2007, while the prior period expenses included expense related to the review of certain stock compensation awards.
-- NicVAX Phase 2b 12-month data presented at the American Heart
Association Scientific Sessions on November 7, 2007 continue the
positive trends and findings previously reported, demonstrating NicVAX
efficacy in supporting statistically significant and continuous
abstinence rates by dose as well as by antibody response. These
positive results are the subject of a recent press release, issued Nov.
7, 2007. They support continued development of this product candidate
and underpin on-going partnership discussions.
-- Shareholder approval for the sale of the Nabi Biologics strategic
business unit to Biotest AG, a significant step toward the successful
completion of our strategic alternatives process.
Nabi is currently working to achieve the following corporate milestones in 2007:
-- Successfully close the sale of Nabi Biologics and Corporate Shared
Services to Biotest Pharmaceuticals
-- Continue to advance development partnerships for NicVAX and the Gram-
Third Quarter Financial Results Conference Call
The company will
|SOURCE Nabi Biopharmaceuticals|
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