support operating as a public company for the full period as well as increased share-based compensation costs.
Alexza ended the year with consolidated cash, cash equivalents and marketable securities of $108.8 million, including $39.4 million of marketable securities held by Symphony Allegro.
On January 1, 2006, Alexza adopted FAS 123R and reports employee share- based compensation expense based on the fair value of the award. Share-based compensation was $1,378,000 in the fourth quarter of 2007 and $3,416,000 in the year ended December 31, 2007 as compared to $810,000 and $2,217,000 in the comparable periods in 2006.
Alexza's Consolidated Statements of Operations include the operations of Symphony Allegro, Inc. "Loss attributed to noncontrolling interest in Symphony Allegro, Inc." reduced net loss for the fourth quarter of 2007 by $3.1 million and by $10.8 million for the year ended December 31, 2007. The transaction with Symphony Allegro was completed in December 2006 and reduced net loss by $1.7 million in both the fourth quarter and year ended December 31, 2006.
Excluding non-cash share-based compensation expense, non-GAAP net loss was $11.8 million for the fourth quarter of 2007 and $41.7 million for the year ended December 31, 2007 as compared to $10.8 million and $39.6 million in the comparable periods in 2006.
Note: Alexza's non-GAAP net loss excludes non-cash share-based
compensation expense. The differences in non-GAAP and GAAP numbers are
reconciled in the tables below (in thousands):
Three Months Ended
|SOURCE Alexza Pharmaceuticals, Inc.|
Copyright©2008 PR Newswire.
All rights reserved