Next GERN ?
ENMD ?
We got our phase III ,, load of cash ,, shitty earnings ,,
Not bad at all ..
Wednesday November 11, 6:57 pm Eastern Time
Company Press Release
SOURCE: Alliance Pharmaceutical Corp.
Alliance Pharmaceutical Corp. Announces First Quarter Financial Results
SAN DIEGO, Nov. 11 /PRNewswire/ -- Alliance Pharmaceutical Corp.
(Nasdaq: ALLP - news) today reported a net loss of $10.7 million, or
$0.33 per share,
for its first fiscal quarter ended September 30, 1998, compared to a net
loss of $6.4 million, or $0.20 per share, for the quarter ended
September 30, 1997. The
Company reported revenues of $5.1 million, primarily research revenue
under its license agreement with Schering AG, Germany for Imagent®.
Revenues for the
quarter ended September 30, 1997 were $6.5 million, which included a
license fee of $4 million from Schering AG, Germany. Operating expenses
for the quarter
totaled $15.7 million, compared to $13.9 million for the 1997 quarter.
The increase in operating expenses is primarily attributable to
increased staffing and related
costs as the Company continues the Phase 3 Imagent trials and prepares
for Phase 3 trials for Oxygent™ and LiquiVent®. As required by the
Securities and
Exchange Commission, the Company's financial results include a one-time,
non-cash imputed dividend of $483,000 from the sale of the its
convertible Series E-1
Preferred Stock, which raised approximately $5.6 million in August 1998.
The Company reported cash and short-term investments of $43.3 million at
September
30, 1998.
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