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Nile Therapeutics Reports 2012 Second Quarter Financial Results
Date:8/14/2012

SAN FRANCISCO, Aug. 14, 2012 /PRNewswire/ -- Nile Therapeutics, Inc. (OTCQB: NLTX.PK), a biopharmaceutical company that develops novel therapeutics for heart failure patients, today announced its second quarter financial results for 2012. 

For the second quarter of 2012, Nile reported a net operating loss of $0.3 million, or $0.01 per share, compared to a net loss of approximately $0.9 million, or $0.03 per share during the second quarter of 2011. Weighted-average shares outstanding for the quarter were 43 million.

Net cash used in operating activities in the second quarter of 2012 was approximately $0.9 million. As of June 30, 2012, Nile had cash and cash equivalents of $0.8 million compared to $1.0 million as of December 31, 2011.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 reliance on Nile's forward-looking statements. Actual results or events could differ mater
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SOURCE Nile Therapeutics, Inc.
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