NovaDel Reports Decrease In Q2 Net Loss

For the quarter, NovaDel reported a net loss of $1.7m or $0.03 per share, as compared to a net loss of $3.2m or $0.05 per share in the corresponding period prior year.

For the six months ended June 30, 2009, NovaDel reported a net loss of $3.8m or $0.06 per share, compared to $5.2m or $0.09 per share for the six months ended June 30, 2008.

For the quarter ended June 30, 2009, the loss from operations was $1.5m as compared to $2.9m for the quarter ended June 30, 2008, a decrease of $1.4m.

NovaDel is a specialty pharmaceutical company developing oral spray formulations for a range of marketed drugs. The company’s proprietary technology offers, in comparison to conventional oral dosage forms, the potential for faster absorption of drugs into the bloodstream.