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news.Renovis has reported that revenue for the fourth quarter and the year ended December 31, 2007 was $1.3 million and $9.8 million, respectively, compared to $2.2 million and $10.4 million in the corresponding periods in 2006.
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The net loss for the fourth quarter of 2007 was $6.8 million compared to $8 million in the fourth quarter of 2006. The net loss for 2007 was $32.8 million compared to $28.4 million for the same period of 2006. Basic and diluted net loss per share in the quarter and year months ended December 31, 2007, was $0.23 and $1.11 compared to $0.27 and $0.97 in the comparable periods in 2006.
John Walker, executive chairman of Renovis, said: “In 2007, we extended our VR1 collaboration with Pfizer and achieved two important milestones. The progress has been significant and allowed us to remain on track for initiating human clinical trials in 2008.”