Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.US-based Scolr Pharma has reported a net loss of $2.92 million, or $0.07 per share, for the fourth quarter of 2008, compared to a net loss of $3.52 million, or $0.09 per share, for the same period of 2007.
Subscribe to our email newsletter
The company reported total revenues of $176,885 for the fourth quarter of 2008, compared to $222,334 for the same quarter of 2007.
Total revenues for the year ended December 31, 2008 were $958,320, a decrease of 51%, compared to $1.97 million for 2007. Net loss decreased 42% to $6.1 million, or $0.15 per share, for the year ended December 31, 2008, compared to a net loss of $10.6 million, or $0.28 per share, in 2007. This decrease was primarily due to the gain of $4.1 million from the termination of the lease of the company’s corporate facility in 2008.
Bruce Morra, president and CEO of Scolr Pharma, said: “In 2008, we were able to achieve a substantial decrease in total operating expenses compared with the prior year. In addition, we completed a lease termination and buyout transaction in 2008 under which we received $4.1 million and successfully relocated our corporate headquarters to a better equipped facility.
“Our primary focus in 2009 will be the disciplined execution of our development programs, the establishment of new licensing and collaboration agreements, and continued leveraging of the company’s novel drug delivery expertise to create oral drug formulations that address large and growing markets.”