Tuesday, May 13, 2008 9:05:24 AM
Tuesday May 13, 7:58 am ET
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Targanta Therapeutics Corporation (Nasdaq: TARG - News) today reported financial results for the quarter ended March 31, 2008.
Targanta reported a net loss of $17.6 million for the three months ended March 31, 2008, compared to a net loss of $18.7 million for the same period in 2007. Net loss for the first quarter of 2007 included $9.5 million of expense related to the Company’s achievement of certain milestones under its agreement with InterMune, Inc. Excluding this expense, the increase in net loss period over period was primarily due to increases in research and development expenses related to advancement of the Company’s lead intravenous antibiotic candidate, oritavancin, for which Targanta submitted a New Drug Application to the U.S. Food and Drug Administration in the first quarter and on which the Company is conducting additional clinical trials. The calculation of net loss for the first quarter ended March 31, 2008 includes stock-based compensation expense of $0.5 million.
The Company had cash, cash equivalents and short-term investments totaling $73.3 million as of March 31, 2008 and had 21.0 million shares outstanding.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM