The net loss for the six months ended June 30, 2012 was $10.6 million, or $0.15 per share, compared to a net loss of $9.5 million, or $0.15 per share, for the comparable period in 2011, representing an increase in net loss of $1.1 million. The six months ended June 30, 2012 included the $2.6 million non-cash extraordinary gain and the $1.5 million arbitration award I previously discussed. The six months ended June 30, 2011 included the $5 million milestone payment from JT/Torii.As I discussed on the last conference call, on May 4, 2012, the Company executed a License Termination and Technology Transfer Agreement with Aeterna Zentaris, whereby the license agreement for KRX-0401 or perifosine was terminated, and in exchange for the transfer of the U.S. IND, development data, IP and contracts to Aeterna, Keryx will receive a royalty on future net sales if any, of perifosine in the U.S., Canada and Mexico. Zentaris has assumed all costs, related to the Perifosine program going forward.
Keryx Biopharmaceuticals' CEO Discusses Q2 2012 Results - Earnings Call Transcript
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