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Adeona Reports Third Quarter 2011 Financial Results
Date:11/14/2011

compared to $68,493 and $252,100 for the same periods in 2010. The stock-based compensation expense for the nine months ended September 30, 2011 includes a one-time charge of $397,767 relating to the modification of certain stock options, prior to expiration, held by a member of the Board of Directors.

Research and development expenses for the three and nine months ended September 30, 2011, were $288,964 and $800,923, respectively, compared to $229,044 and $962,766 for the same periods in 2010. The increase for the three months ended September 30, 2011 is primarily the result of increased costs associated with our new clinical programs and the development costs associated with the commercialization of wellZin. The decrease for the nine months ended September 30, 2011 is primarily the result of decreased costs associated with the discontinuation of some of our clinical programs in prior periods. For the three and nine months ended September 30, 2011, research and development expenses include a non-cash charge relating to stock-based compensation expense of $5,749 and $20,358, respectively, compared to $19,817 and $72,785, for the same periods in 2010.

Costs of laboratory services for the three and nine months ended September 30, 2011, were $260,881 and $805,881, respectively, compared to $192,176 and $430,001, for the same periods in 2010. These increases are primarily the result of increased costs associated with the increased client base and expansion of in-house diagnostic testing services to include a full array of microbiology testing, including salary and supply costs.

Total net other expense for the three and nine months ended September 30, 2011, were $159,750 and $1,680,030, respectively, compared to $293 and $7,629 of total net other income, for the same periods in 2010. For the three and nine months ended September 30, 2011, total net other expense included $164,993 and $1,734,460, respectively, relating to the estimated fair va
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SOURCE Adeona Pharmaceuticals, Inc.
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