Research revenue for the three and six months ended December 31, 2010 was $23,000 and $130,000 compared to $0 and $60,000 in the same periods in 2009. Research revenue in all periods reflects charges under services agreements related to the characterization of protein-protein interactions. Due to more limited demand and general market conditions for such services, the Company does not expect growth in its research revenue.Research and development expenses for the three and six months ended December 31, 2010 were $5.0 million and $10.7 million compared to $8.2 million and $14.1 million in the same periods last year. The respective 39% and 24% decreases were primarily due to lower external drug development costs resulting from the discontinuation of HIV drug candidate MPC-4326, the completion of patient enrollment in other clinical trials, and decreased preclinical development costs resulting from reductions in headcount and laboratory supplies.
Myrexis Reports Second Quarter Fiscal 2011 Financial Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.