SARASOTA, Fla., Aug. 11, 2014 /PRNewswire/ -- Rock Creek Pharmaceuticals, Inc., (NASDAQ: RCPI), a drug development company focused on chronic inflammatory disease and neurologic disorders, announced today that it filed with the Securities Exchange Commission its Form 10-Q for the second quarter ended June 30, 2014. The company has also announced a clinical and regulatory update.
Second Quarter, 2014:
For the three months ended June 30, 2014, the company reported net sales of $0.7 million (gross sales less cash discounts, product discounts and product return allowance) compared to $2.5 million for the same period in 2013. The decrease of 71% was attributable exclusively to decreased Anatabloc® sales volume driven by significantly reduced promotion and marketing expenditures associated with the administrative status of Anatabloc® during the period.
The company also reported positive gross profits of $0.4 million for second-quarter 2014, compared to a gross profit of $1.0 million for the same period in 2013. The decreased gross profit is attributable exclusively to the decreased Anatabloc® sales volume discussed above.
The company had a net loss of approximately $12.7 million for the three months ended June 30, 2014, compared to a net loss of approximately $8.7 million for the same period in 2013. The increase in net loss for the three months ended June 30, 2014 was primarily due to increases in stock-based compensation and severance costs, offset by lower sales and marketing expenses and legal expenditures.
For the three months ended June 30, 2014, the company had a basic and diluted loss per share of $(0.07), compared to a basic and diluted loss per share of $(0.05) for the comparable period in 2013.
For a detailed review of the company's financial disclosu
|SOURCE Rock Creek Pharmaceuticals, Inc.|
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