Navigation Links
Nile Therapeutics Reports 2012 First Quarter Financial Results

SAN FRANCISCO, May 15, 2012 /PRNewswire/ -- Nile Therapeutics, Inc. (OTCQB: NLTX), a biopharmaceutical company that develops novel therapeutics for heart failure patients, today announced its first quarter financial results for 2012. 

For the first quarter of 2012, Nile reported a net operating loss of $0.8 million, or $0.02 per share. Weighted-average shares outstanding for the quarter were 39.7 million. Nile reported collaboration income of $0.2 million during the quarter ended March 31, 2012.

As of March 31, 2012, Nile had cash and cash equivalents of $0.4 million compared to $1.0 million as of December 31, 2011. On March 30, 2012, Nile entered into definitive agreements to sell shares of its common stock and warrants in a registered direct offering. Net proceeds of the offering were approximately $1.1 million.About Nile TherapeuticsNile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical needs. Nile is initially focusing its efforts on developing its lead compound, cenderitide, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure. More information on Nile can be found at

Safe Harbor Paragraph for Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Nile's plans to develop cenderitide in the post-acute setting and the anticipated benefits of cenderitide for patients in the post-acute setting are forward-looking statements. Nile may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on Nile's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Nile makes. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that Nile makes include Nile's immediate need to raise additional capital to fund its general corporate activities and its need to raise substantial additional capital to fund its planned Phase 2 study of cenderitide and to otherwise fund its product development programs to completion, Nile's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in greater detail in the reports Nile files with Securities and Exchange Commission, including those described under the caption "Risk Factors" in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission on April 2, 2012. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.Condensed Statement of OperationsThree months ended March 31,20122011Income:Collaboration income$
-Operating expenses:Research and development465,353622,332General and administrative500,020575,278Total operating expenses965,3731,197,610Loss from operations(769,873)(1,197,610)Other income (expense):Interest income2441,986Other income (expense)(2,250)(168)Total other income (expense) (2,006)1,818Net loss$
(1,195,792)Basic and diluted loss per share$
(0.03)Weighted-average common shares outstanding39,712,23134,673,475Summary Balance Sheet(in thousands)March 31,  2012December 31, 2011Cash and cash equivalents $
436$   1,039Working Capital$
769Stockholders' equity$

SOURCE Nile Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. Allos Therapeutics Initiates Study of PDX in Patients with Cutaneous T-Cell Lymphoma
3. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
4. TorreyPines Therapeutics Completes Patient Enrollment in Phase IIb Clinical Trial of Tezampanel for the Treatment of Acute Migraine Headache
5. CV Therapeutics Announces Eight Abstracts Accepted for Presentation at the European Society of Cardiology Congress 2007
6. Pharmacopeia Assists the World Health Organization in the Discovery of Novel Therapeutics for the Treatment of Malaria
7. Protalix BioTherapeutics Treats First Patient in Phase III Clinical Trial of prGCD
8. TorreyPines Therapeutics Initiates a Phase I Multiple Dose Clinical Trial of Tezampanel
9. TorreyPines Therapeutics Completes Phase I Multiple Dose Clinical Trial of NGX267, a Selective M1 Agonist for the Potential Treatment of Cognitive Impairment Associated with Schizophrenia
10. Cell Therapeutics, Inc. (CTI) Launches Phase III Study for Pixantrone in Relapsed Indolent Non-Hodgkins Lymphoma (NHL)
11. Cell Therapeutics, Inc. (CTI) Sponsors Panel Discussion on Women and Lung Cancer on Capitol Hill
Post Your Comments:
(Date:11/30/2015)... , Nov. 30, 2015 Next week, ... Designers of Things (DoT ) co-located events covering the ... the Internet of Things, will draw more than 3,000 ... Convention Center. The events, combined show floor ... technologies. --> --> ...
(Date:11/30/2015)... global cell culture market is expected ... bn by 2022 at a CAGR of 7.1% therein. --> ... its 2013 value of US$6.1 bn to US$11.3 bn by 2022 ... Research has announced the release of a new market research study, ... ,Cell Culture Market - Global Industry Analysis, Size, Share, Growth, Trends ...
(Date:11/30/2015)... , Nov. 30, 2015  IBA Molecular North ... and distribution of radiopharmaceuticals, announced that as of January ... Inc. (Zevacor Pharma). The decision to rebrand the company ... firm as well as its close relationship with Zevacor ... Illinois Health and Science (IHS). Peter ...
Breaking Medicine Technology:
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... The successful ... emerging pharmaceutical company. Because it is so important to this key industry segment, Regis ... in your IND Filing” on December 4th at 11am EST. , Federal law does ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... of DataTrade Solutions Inc., a Healthcare IT consulting, development and support company. The ... and technical experience available within DataTrade to extend the services currently provided by ...
(Date:11/30/2015)... ... November 30, 2015 , ... GKhair & Tibolli team members and ... Beauty Show held on November 8th and 9th at the Puerto Rico Convention Center, ... artists, renowned beauticians and top of the line fashion journalists. The San Juan Beauty ...
(Date:11/30/2015)... ... 30, 2015 , ... Innovaacom, a leading provider of medical ... survey of educational needs for pharmacists worldwide. The poll of pharmacists in Europe, ... quality online and face-to-face education for pharmacists who are fast becoming the new ...
(Date:11/30/2015)... Burnsville MN (PRWEB) , ... November 30, 2015 ... ... addition of a new product dealer. Joining more than 30 HealthPostures’ dealers located ... its foot space and increase the number of corporate, industrial, manufacturing and government ...
Breaking Medicine News(10 mins):