NT reports worsened loss in full-year 2008
USA-based Neurobiological Technologies reported a deepened loss for the full fiscal year 2008 on reduced revenue, but recovered costs with a public offering early in the year (Marketletter February 25) that netted the company $55.0 million to fund Phase III trials of Viprinex (ancrod injection) in the treatment of acute ischemic stroke.
The firm's revenue dropped to $14.8 million versus $17.7 million in full fiscal year 2007. R&D expenses were down to $24.6 million vs $26.7 million. The firm's net loss increased to $16.3 million vs $14.1 million, but the flotation meant that loss per share was only $0.84 vs $3.26.
The company's cash and cash equivalents stood at $27.9 million, boosted by the offering from just $5.5 million, and total assets stood at $43.2 million vs 10.9 million.
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