DOR BioPharma Reports Decrease In Q2 Revenues

DOR’s revenues, for the second quarter of 2009, were approximately $0.3m compared to $0.5m for the second quarter of 2008. Revenues for the first half of 2009 were approximately $0.9m compared to $1.2m for the first half of 2008. The company said that the decreased revenues were primarily attributable to lower support amounts drawn from DOR’s Biodefense grants with the NIH.

DOR’s net loss for the second quarter of 2009 was approximately $1.8m, or $0.01 per share, compared to $1.3m or $0.01 per share for the second quarter of 2008. The net loss for the first half of 2009 was approximately $3.9m, as compared to $2.6m for the first half of 2008.

Christopher Schaber, president and CEO of DOR, said: This year continues to be very eventful for DOR. With our new partnership with Sigma-Tau, we are working diligently towards the initiation of our confirmatory Phase 3 clinical trial of orBec in GI GVHD under a Special Protocol Assessment (SPA) with the FDA. Once the clinical trial is initiated, we expect to receive a $1 million milestone payment from Sigma-Tau in accordance with our collaboration agreement.