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Nile Therapeutics Reports 2010 Fourth Quarter and Full Year Financial Results
Date:3/14/2011

SAN FRANCISCO, March 14, 2011 /PRNewswire/ -- Nile Therapeutics, Inc. (Nasdaq: NLTX), a biopharmaceutical company that develops novel therapeutics for heart failure patients, today announced its fourth quarter and full year financial results for 2010.  The company will host a conference call and live webcast to discuss these financial results and provide an update on each of its development programs at 4:30 p.m. EDT on March 15, 2011. Interested investors may participate in the conference call by dialing +1-877-303-1595 (USA) or +1-970-315-0449 (international).  Participants may also access both the live and archived webcast of the conference call from the homepage and the investor relations section of Nile's website at www.nilethera.com.  

Financial ResultsFor the fourth quarter of 2010, Nile reported a net operating loss of $0.8 million, or $0.02 per share. For the full year, net operating loss was $6.0 million, or $0.19 per share. Weighted-average shares outstanding for the quarter and the year ended December 31, 2010 were 34.6 million and 32.2 million, respectively. Nile reported no revenue during the quarter and the year ended December 31, 2010.

As of December 31, 2010, Nile had cash and cash equivalents of $3.4 million compared to $3.2 million as of December 31, 2009. Cash used in operations during the year ended December 31, 2010 was $4.3 million.  Nile raised $4.5 million in 2010 through a public offering of common stock and warrants and through the exercise of stock options and warrants.

Update on cenderitide programIn 2010, Nile completed a Phase 2 study of cenderitide (formerly CD-NP), its lead product candidate, in 77 patients with acute decompensated heart failure (ADHF) and mild to moderate renal insufficiency. Data will be presented at the American College of Cardiology Sci
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SOURCE Nile Therapeutics, Inc.
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