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Nile Therapeutics Reports 2012 First Quarter Financial Results
Date:5/15/2012

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 http://www.nilethera.com

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 r
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SOURCE Nile Therapeutics, Inc.
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