ADLS: Management Discusses Q1 Results and Udates Progress with Cethromycin
Submitted By Knobias ClipReport
ADLS: Management Discusses Q1 Results and Udates Progress with Cethromycin
Advanced Life Sciences Holdings, Inc. (ADLS) announced a first quarter loss $3.6 million, or $0.09 per share, compared to $10.5 million, or $0.37 per share, for the same period last year. Analysts had expected a loss of $0.13 per share.
The Company expects its 2008 cash requirements excluding milestone payments that become due upon NDA filing to fall in the range of $16 million and $17 million. The first quarter cash use of $5.7 million reflects continued NDA submission costs that will curtail substantially in the coming quarters. Accordingly, the Company expects its quarterly cash use to decrease as the Company moves forward with our operations. The cash used will be applied toward remaining cethromycin NDA submission activities, manufacturing costs, medical communication investments, ALS-357 clinical costs, and general operating expenses.
