MiddleBrook Pharmaceuticals Q4 net loss widens to $11.6m

Published: 09-Mar-2009

Net loss of fiscal 2008 decreased to $41.6m

MiddleBrook Pharmaceuticals, a developer and marketer of anti-infective products, has reported net loss of $11.6m for the fourth quarter of 2008, compared to a net loss of $9.1m in the corresponding period of 2007.

For full year 2008, net loss was $41.6m, or $0.64 basic and diluted net loss per share, compared to net loss of $42.2m, or $0.96 basic and diluted net loss per share in 2007.

The company reported revenues of $1.7m in the fourth quarter of 2008, compared to revenue of $2.9m in the fourth quarter of 2007. For full year 2008, revenues were $8.8m, a decrease of 15.4%, compared to $10.5m in 2007.

Dave Becker, executive vice president and CFO of MiddleBrook, said: We ended 2008 with $74.7m in cash and marketable securities, in line with our previously stated guidance of over $70m. Our balance sheet is strong, and we are well positioned to successfully execute the launch of Moxatag.

It remains our intention to achieve profitability in 2010 without the need for additional equity financing. Everyone at MiddleBrook is focused on executing our plan and achieving success.

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