Third Quarter Financial Results Reported by Vion Pharmaceuticals
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PR Newswire - November 25, 1998 15:45
"The third quarter was a productive quarter for the Company," said John Spears, president and CEO. "We substantially simplified our capital structure through the conversion of our Class B Convertible Preferred Stock into common stock. The pre-clinical development of the TAPET vector was continued toward the goal of 1999 clinical trials. Moreover, our partners in the development of Melasyn(R), San Mar Laboratories, completed the manufacturing scale up of Melasyn bulk material, formulation and consumer testing of their first product containing Melasyn."
Cash, cash equivalents and marketable securities were $9,333,190 at the end of the third quarter, compared to $11,674,865 at the end of the second quarter.
The loss applicable to common shareholders for the quarter was $3,673,377, or $0.27 per share, compared to a restated loss of $4,254,622, or $0.40 per share, in the previous quarter.
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Looks like they are on target with the plans for the TAPET trials. Still in the red, but some $ should start to roll in from the Melasyn deal.
JimO |
