The company ended the third quarter of 2008 with cash and cash
equivalents totaling $7.8 million including $1.7 million from the sale of
its common stock to Wyeth. Cash usage in the third quarter 2008 was
approximately $3.0 million.
Operating Expense Analysis
* Research and development expenses were $11.2 million for the three
months ended September 30, 2008 compared to $3.8 million for the three
months ended September 30, 2007. The increase in R&D expense is
primarily due to the NDA submission milestone payment to Abbott
* Selling, general and administrative expenses totaled $1.8 million
compared to $2.0 million for the second quarter of last year.
* Signed development and commercialization agreement with Wyeth for
cethromycin in Asia Pacific Region;
* Submitted NDA for cethromycin in mild-to-moderate community acquired
* Entered into debt and equity financing agreements to strengthen the
balance sheet and help fund commitments associated with the NDA
submission and pre-commercialization activities;
* Awarded contract by the Defense Threat Reduction Agency (DTRA) of the
U.S. Department of Defense worth up to $3.8 million to further study
cethromycin as a potential broad-spectrum medical countermeasure over
* Presented posters and met with cethromycin National Advisory Board at
the October ICAAC/IDSA conference in Washington, DC;
* Announced and initiated collaboration with UK Ministry of Defence to
evaluate the developmental compound ALS-886 as a treatment for
chemically induced lung injury.
Anticipated Fourth Quarter 2008 Milestones
In the fourth quarter 2008, we anticipate achieving the following
* Advance discussions with prospective U.S. and E.U. partners for the
|SOURCE Advanced Life Sciences Holdings, Inc.|
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