Naz News, Gappers and FLE's

[sludgehound]

Throw OXBT on the fire too. 3.86 -2.8%
10:50 AM EDT, 07/29/2014 (MT Newswires) -- Oxygen Biotherapeutics (OXBT) reported a net loss of $19.5 million, or $2.71 per share, for the fiscal year ended April 30, 2014, missing Capital IQ estimates for a loss of $1.43 per share.
This compares to a loss of $9.4 million, or $6.29 per share for FY 2013.
The 2014 net loss includes $7.9 million in non-cash compensation expenses recognized from vesting of performance-based stock options and restricted stock grants attributable to the acquisition of the license rights to develop levosimendan from Phyxius Pharma.
Grant revenue totaled $263,000, down 76% from 2013.
Research and development costs for 2014 were $3.0 million for FY14 versus $2.5 million for FY13. The increase in costs, however, reflect OXBT's investment in its late-stage clinical programs during 2014, including the concurrent initiation of the Phase 3 study for levosimendan and continuation of the Phase 2 study for Oxycyte.
As a result of lower earnings and revenue, shares of OXBT are trading in the red at $3.95 with a 52-week range of $1.19 to $11.40.
Price: 3.92, Change: -0.05, Percent Change: -1.26
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