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Mast Therapeutics Reports Fourth Quarter And Full Year 2012 Financial Results
Date:3/19/2013

vanced form of atherosclerosis, where we believe the potential to demonstrate a treatment effect is greatest.  Based on the similar pathophysiology of atherosclerotic arterial disease, we believe that clinical proof-of-concept data in acute limb ischemia will increase development and partnering opportunities in other forms of occlusive arterial disease.  We expect to generate clinical proof-of-concept data in a relatively short period of time and with relatively modest investment, which we plan to leverage to find a partner to develop MST-188 in larger market indications within arterial disease, such as stroke." 

Fourth Quarter 2012 Operating Results
The Company's net loss for the fourth quarter of 2012 was $4.0 million, or $0.08 per share (basic and diluted), compared to a net loss of $2.4 million, or $0.06 per share (basic and diluted), for the same period in 2011.

Research and development (R&D) expenses for the fourth quarter of 2012 were $2.1 million, an increase of $0.3 million, or 20%, compared to $1.8 million for the same period in 2011. The net increase was due to increases of $0.3 million in external clinical study fees and expenses and $0.2 million in personnel costs, offset by a $0.2 million decrease in external nonclinical study fees and expenses. The increase in external clinical study fees and expenses was primarily related to an increase in clinical consulting and phase 3 study planning expenses for MST-188.  The increase in personnel costs was primarily related to additional clinical and research-related manufacturing staff hired in 2012.  The decrease in external nonclinical study fees and expenses was primarily related to a decrease in research-related manufacturing activities for ANX-514.

Selling, general and administrative (SG&A) expenses for the fourth quarter of 2012 were $1.8 million, consistent with the same period in 2011.

Year-to-Date Operating Results
The Company's net l
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SOURCE Mast Therapeutics
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