For the full year 2008, the company reported a net loss of $64.75 million, or $4.03 per share, compared to a net loss of $29.85 million, or $2.19 per share, for 2007.
Total revenues for the fourth quarter of 2008 were $26.41 million, compared to $25.29 million for the fourth quarter of 2007. For the 12 months ended December 31, 2008, the company reported total revenues of $86.85 million, compared to $79.97 million for 2007.
Steven Rauscher, president and CEO of Oscient, said: “Our business focus is on cash preservation, sustaining revenues of our existing portfolio, and best positioning the company for the strategic review of alternatives being directed by our advisors at Broadpoint Capital.”