Northfield Laboratories Inc. announced today financial results for the first fiscal quarter ended August 31, 2008.
For the first fiscal quarter, Northfield reported a net loss of $5.9 million, or $.22 per share, compared with a net loss of $4.8 million, or $.18 per share, for the corresponding period last year. At the close of the quarter, Northfield reported shareholders’ equity of $21.7 million, with $15.3 million in cash and marketable securities. As a development stage company, Northfield does not generate revenues.
Recent and Upcoming Events
* At its annual meeting of shareholders on October 2, 2008, Northfield affirmed its intention to submit a Biologics License Application for PolyHeme®, the Company’s human hemoglobin-based oxygen carrier for the treatment of life-threatening hemoglobin levels when blood is not available, during the fourth calendar quarter of 2008. Northfield will also seek Priority Review designation for its application.
* Northfield announced at the annual meeting that the manuscript entitled Human Polymerized Hemoglobin for the Treatment of Hemorrhagic Shock when Blood Is Unavailable: The USA Multicenter Trial has been accepted for publication in the Journal of the American College of Surgeons. The paper will appear in the January 2009 print edition and will be available earlier on-line.
* Northfield’s Chairman and CEO Steven A. Gould, M.D., will be presenting at the Rodman and Renshaw 10th Annual Healthcare Conference in November.
* Northfield will not host a conference call this quarter since the annual meeting was webcast one week ago.
About Northfield Laboratories and PolyHeme®
Northfield Laboratories Inc. is a leader in developing an oxygen-carrying red blood cell substitute for the treatment of life-threatening hemoglobin levels, when an oxygen-carrying fluid is required and red blood cells are not available. Northfield's product, PolyHeme(R), is under clinical investigation as an oxygen-carrying red blood cell substitute. It is a solution of chemically modified human hemoglobin that requires no cross matching and is therefore compatible with all blood types. PolyHeme® has a shelf life in excess of 12 months.
Contact:
Northfield Laboratories Inc.
Sophia H. Twaddell
Vice President, Corporate Communications
847-864-3500
stwaddell@northfieldlabs.com
or
Fleishman-Hillard
Tom Laughran, 312-751-3519
laughrant@fleishman.com
Source: Northfield Laboratories Inc.
For the first fiscal quarter, Northfield reported a net loss of $5.9 million, or $.22 per share, compared with a net loss of $4.8 million, or $.18 per share, for the corresponding period last year. At the close of the quarter, Northfield reported shareholders’ equity of $21.7 million, with $15.3 million in cash and marketable securities. As a development stage company, Northfield does not generate revenues.
Recent and Upcoming Events
* At its annual meeting of shareholders on October 2, 2008, Northfield affirmed its intention to submit a Biologics License Application for PolyHeme®, the Company’s human hemoglobin-based oxygen carrier for the treatment of life-threatening hemoglobin levels when blood is not available, during the fourth calendar quarter of 2008. Northfield will also seek Priority Review designation for its application.
* Northfield announced at the annual meeting that the manuscript entitled Human Polymerized Hemoglobin for the Treatment of Hemorrhagic Shock when Blood Is Unavailable: The USA Multicenter Trial has been accepted for publication in the Journal of the American College of Surgeons. The paper will appear in the January 2009 print edition and will be available earlier on-line.
* Northfield’s Chairman and CEO Steven A. Gould, M.D., will be presenting at the Rodman and Renshaw 10th Annual Healthcare Conference in November.
* Northfield will not host a conference call this quarter since the annual meeting was webcast one week ago.
About Northfield Laboratories and PolyHeme®
Northfield Laboratories Inc. is a leader in developing an oxygen-carrying red blood cell substitute for the treatment of life-threatening hemoglobin levels, when an oxygen-carrying fluid is required and red blood cells are not available. Northfield's product, PolyHeme(R), is under clinical investigation as an oxygen-carrying red blood cell substitute. It is a solution of chemically modified human hemoglobin that requires no cross matching and is therefore compatible with all blood types. PolyHeme® has a shelf life in excess of 12 months.
Contact:
Northfield Laboratories Inc.
Sophia H. Twaddell
Vice President, Corporate Communications
847-864-3500
stwaddell@northfieldlabs.com
or
Fleishman-Hillard
Tom Laughran, 312-751-3519
laughrant@fleishman.com
Source: Northfield Laboratories Inc.
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