Company to hold Conference Call on May 14, 2009
NEW HAVEN, Conn., May 11 /PRNewswire-FirstCall/ -- VION PHARMACEUTICALS, INC. (OTC Bulletin Board: VION) today announced financial results for the first quarter of 2009.
The Company reported a net loss of $4.3 million, or $0.54 per share, for the quarter ended March 31, 2009, compared with a net loss of $8.2 million, or $1.14 per share, for the same 2008 period. Weighted-average common shares outstanding for the three months ended March 31, 2009 and March 31, 2008 were 7.9 million and 7.2 million, respectively.
The Company reported ending the quarter with $30.0 million in cash and cash equivalents. Based on its current operating plan, management estimates that its existing cash and cash equivalents will be sufficient to fund operations through the first quarter of 2010.
In February 2009, the Company submitted a New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) for its lead anticancer agent Onrigin (laromustine) Injection for remission induction treatment for patients sixty years of age or older with de novo poor-risk acute myeloid leukemia (AML). In April 2009, the Company announced that the FDA had accepted the NDA for review and that it had been assigned an end user fee date of December 12, 2009 for a decision on approval by the FDA.
Alan Kessman, Chief Executive Officer, commented, "We are continuing to interact with the FDA on our NDA with the objective of receiving approval for Onrigin in its first indication in the U.S. by the end of 2009."
The Company will hold a conference call at 8:30 a.m. Eastern Time on May 14, 2009 to discuss its operations and financial results.
To participate in the conference call, please dial (866) 271-6130 in the U.S. ((617) 213-8894 for international callers) at lea
|SOURCE Vion Pharmaceuticals, Inc.|
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