THE WOODLANDS, Texas, March 28, 2011 (GLOBE NEWSWIRE) -- Repros Therapeutics Inc. ® (Nasdaq:RPRX) today announced financial results for the year and fourth quarter ended December 31, 2010.
Net loss for the three-month period ended December 31, 2010, was ($1.2) million or ($0.13) per share as compared to a net loss of ($1.3) million or ($0.23) per share for the same period in 2009. Net loss for the twelve-month period ended December 31, 2010 was ($4.8) million or ($0.59) per share as compared to ($27.2) million or ($6.28) per share for the same period in 2009. The decrease in loss for the three month period ended December 31, 2010 as compared to the same period in 2009 was primarily due to decreased expenses in clinical development for Proellex ® and Androxal ®. The decrease in loss for the twelve month period ended December 31, 2010 as compared to the same period in 2009 was primarily due to decreased expenses in clinical development for Proellex and Androxal, payroll and benefits and professional services.Research and development ("R&D") expenses decreased 87% or approximately $20.2 million to $2.9 million for the year ended 2010 as compared to $23.1 million in 2009. Our primary R&D expenses for 2010 and 2009 are shown in the following table (in thousands):
|Research and Development||December 31, 2010||December 31, 2009||Variance||Change (%)|
|Androxal® clinical development||$383||$786||$ (403)||(51%)|
|Proellex® clinical development||1,169||18,376||(17,207)||(94%)|
|Payroll and benefits||573||1,384||(811)||(59%)|
|Operating and occupancy||779||2,516||(1,737)||(69%)|
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