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news.Cougar Biotechnology, a development-stage biopharmaceutical company, has reported a net loss of $21.47 million, or $1.04 per share, for the fourth quarter of 2008, compared to a net loss of $7.69 million, or $0.43 per share, for the same period of 2007.
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For the full year 2008, the company reported a net loss of $59.82 million, or $2.90 per share, compared to a net loss of $31.86 million, or $2.17 per share, for the full year 2007.
Alan Auerbach, CEO and president of Cougar, said: “We will continue to move forward with the clinical development of CB7630 (abiraterone acetate) during 2009. Our ongoing COU-AA-301 Phase III trial of CB7630 in patients with metastatic castration-resistant prostate cancer who have failed docetaxel-based chemotherapy has experienced rapid recruitment and we look forward to completing recruitment in this trial shortly.
“We also anticipate that we will present preliminary data from our Phase I/II trial of CB7630 in breast cancer during 2009 and further anticipate that we will report preliminary data from our Phase I/II trial of CB3304 (noscapine) in multiple myeloma during the year as well.”