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Discovery Labs Reports Second Quarter 2014 Financial Results
Date:8/5/2014

WARRINGTON, Pa., Aug. 5, 2014 /PRNewswire/ -- Discovery Laboratories, Inc. (Nasdaq: DSCO), a specialty biotechnology company dedicated to advancing a new standard in respiratory critical care, today announced financial results for the second quarter ended June 30, 2014, as well as recent business updates. The Company will host a conference call today, August 5, 2014 at 9:00 AM ET to discuss the 2014 second quarter financial results and other business updates. 

Financial update

  • Reported an operating loss of $10.9 million and net cash outflows before financing activities of $10.4 million for the second quarter of 2014;
  • Ended the second quarter of 2014 with cash and cash equivalents of $65.6 million; and
  • Awarded $1.9 million Fast Track Small Business Innovation Research (SBIR) Grant from the National Heart, Lung, and Blood Institute (NHLBI) of the National Institutes of Health (NIH) to support the phase 2a clinical trial for AEROSURF®.
  • SURFAXIN® (lucinactant): SURFAXIN is the liquid dosage form of the Company's novel KL4 surfactant and is the first FDA-approved synthetic, peptide-containing alternative to animal-derived surfactants. Currently, the Company is focused on securing formulary acceptance with hospitals that it considers to be influential centers of influence with strong reputations in the neonatal community, as well as affiliated and regional hospitals. To date, the Company achieved formulary acceptance or restricted use allowance in a total of 15 neonatal critical care facilities.

    AEROSURF: The ongoing phase 2 clinical program for our investigational product AEROSURF consists of a phase 2a trial, which is designed to assess safety and tolerability of aerosolized KL4 surfactant delivered to premature infants receiving nasal continuous positive airway pressure (nCPAP), and a phase 2b trial, which is
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    SOURCE Discovery Laboratories, Inc.
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