Radient Pharmaceuticals Corporation fka RXPC

[GetSeriousOK]

The 10K shows how Radient lost $86 million in 2011 and $85 million in 2010. it was mostly on interest expense. See page 40 in the 10K:

https://www.sec.gov/Archives/edgar/data/838879/000114420412037312/v316641_10k.htm

In 2010 a big chunk was from admitting that Jade was worthless -- Radient took a $20 million loss on Jade in 2010. In 2010 they also admitted that CIT was worthless (page 11 of the link above) but that was only about a million dollars:

Due to the following conditions at December 31, 2010, we decided to impair the remaining balance of our CIT asset:


· Lack of any potential future revenue;
· Lack of future cash flows;
· High cost of future clinical studies; and
· Limited time remaining on the patent.


The amount of the impairment was $1,058,333 for the year ended December 31, 2010.



In 2011 they also spent money on NuVax -- see page 11 in the link above, among other pages:

In January 2011, NuVax signed four exclusive license agreements with the University of Florida Research Foundation, Inc. (“UFRF”), for the development and marketing of a cancer therapeutic product developed by the UFRF. In July 2011, the UFRF terminated the agreements due to lack of funding.