Neose Technologies Reports Second Quarter Financial Results (Business Wire)

Thursday August 7, 4:00 pm ET HORSHAM, Pa.--(BUSINESS WIRE)--Neose Technologies, Inc. (NasdaqGM:NTEC - News ) today announced financial results for the second quarter ended June 30, 2008. For the quarter ended June 30, 2008, the Company reported a net loss of $4.6 million, or $0.08 per basic and diluted share, compared to a net loss of $5.2 million, or $0.09 per basic and diluted share, for the second quarter in 2007. During the quarter ended June 30, 2008, the Company incurred external research and development costs of $0.8 million related to the previously announced cessation of clinical development activities for NE-180. The Company’s net loss for the quarter ended June 30, 2008 included non-cash expense of $0.2 million relating to an increase in the fair value of the Company’s warrant liability. During the second quarter... [read full story]