The reported losses included non-cash stock-based compensation charges for the quarters ended December 31, 2008 and 2007 of approximately $236,000 and $533,000, respectively.
For the fiscal year ended December 31, 2008, Cortex reported a net loss of $14.59 million, or $0.31 per share, compared to a net loss of $12.97 million, or $0.31 per share, for the previous year. These losses included non-cash stock-based compensation charges for the years ended December 31, 2008 and 2007 of approximately $1.3 million and $2.24 million, respectively.