Net loss for the full year 2008 was $93.6 million, compared to $160 million for the full year 2007. Net loss per share was $0.26 and $1.53 for the fourth quarter and full year of 2008, respectively, compared with a net loss per share of $0.54 and $2.64 for the same periods of 2007.
Revenue was $5.9 million for the fourth quarter of 2008, compared with $5.6 million for the same period of 2007. For the full year of 2008, revenue was $23.1 million, compared with $22 million for the full year of 2007. The increases for the fourth quarter and full year periods were due to additional milestone payments received from the company’s partnerships with GSK and Astellas.
Rick Winningham, CEO of Theravance, said: We ended the year with positive news in both the Horizon and telavancin programs. We look forward to a productive year ahead with a number of very important milestones for our company.