Antares Pharma, a pharma product development company, has reported a net loss of $2.74m, or $0.04 per share, for the fourth quarter of 2008, compared to a net loss of $3.24m, or $0.05 per share, for the same period in 2007.
For the year ended December 31, 2008, the company reported a net loss of $12.69m, or $0.19 per share, compared to a net loss of $8.58m, or $0.14 per share, for 2007.
Total revenue was $1.77m and $5.66m for the three months and year ended December 31, 2008, respectively, compared to $1.98m and $7.86m for the three months and year ended December 31, 2007, respectively.
Paul Wotton, president and CEO of Antares Pharma, said: Antares has continued to make strong progress across all fronts, namely in our solid relationship with Teva Pharmaceuticals where we have five products under contract for development and we eagerly await the approval of a supplemental new drug application for TevTropin hGH in our needle-free device.
Additionally, enrollment progresses in our 600 patient three-arm Anturol Phase III trial where we will seek to partner the product in 2009, and finally, there is the potential to secure additional agreements with partners for our FDA-approved technologies, which we believe offer clear advantages over existing products for patients with respect to side effects, dosing and convenience.