NeurogesX Q4 net loss declines to $4.79m

NeurogesX, a biopharmaceutical company, has reported a net loss attributable to common stockholders of $4.79m, or $0.27 per share, for the fourth quarter of 2008, compared to a net loss attributable to common stockholders of $7.89m, or $0.58 per share, for the same period of 2007.

For the 12 months ended December 31, 2008, the company reported a net loss attributable to common stockholders of $26.03m, or $1.49 per share, compared to a net loss attributable to common stockholders of $36.58m, or $4.06 per share, for the same period of 2007.

Anthony DiTonno, president and CEO of NeurogesX, said: With the final European Commission decision expected within the next 60 to 90 days, and a US marketing application under review, we believe that we are closer than ever before to becoming a commercial enterprise. We are pleased with the proposed label for Qutenza in the EU, which includes all peripheral neuropathic pain conditions in non-diabetic adults either alone or in combination with other medicinal products for pain and supports our goal of finalizing a commercial partnership for the EU during the first half of 2009.

In the US our new drug application for Qutenza was accepted and is currently under review by the FDA for the postherpetic neuralgia indication, with a scheduled Prescription Drug User Fee Act date of August 16, 2009. We continue to plan for the potential US commercialization of Qutenza. Both our US and European commercial strategies continue to focus on maximizing the value of Qutenza, and we are excited about the upcoming events for the coming year.