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news.XenoPort, a biopharmaceutical company, has reported a net loss of $18.7 million, or $0.74 per diluted share, for the fourth quarter of 2008, compared to a net income of $2.5 million, or $0.09 per diluted share, for the same period in 2007.
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Net loss for the 12 months ended December 31, 2008 was $62.5 million, or $2.48 per diluted share, compared to a net income of $28.2 million, or $1.08 per diluted share, for the same period in 2007.
Revenues for the fourth quarter of 2008 were $10.6 million, compared to $25.8 million for the same period in 2007. Revenues for the 12 months ended December 31, 2008 were $42 million, compared to $113.8 million for the same period in 2007.
Ronald Barrett, CEO of XenoPort, said: We believe that XenoPort’s accomplishments over the last several months, including the encouraging data generated in the XP21279 Phase I clinical trial, have set the table for 2009 to be another exciting year. We expect to report top-line results from multiple trials from our three clinical-stage programs.
We also plan to make important decisions about our role in the potential commercialization of Solzira. Finally, we look forward to working with GSK and the FDA to advance the review of the Solzira new drug application.