Fourth quarter selling, general and administrative expenses were $2.5 million for 2012, compared to $2.3 million for the fourth quarter of 2011. For the full year 2012, Furiex recorded selling, general and administrative expenses of $11.3 million, compared to $8.8 million in the prior year. The increase in selling, general and administrative expenses for the year was due primarily to increases in non-cash stock compensation expense of $1.1 million, including additional grants issued to employees during 2012 and the mark-to-market adjustment for non-vested consultant options, and increases in consulting and legal expenses of $0.9 million.Interest expense of $2.5 million for the year ended December 31, 2012 related entirely to our loan agreement with MidCap Funding III, LLC, Midcap Funding RE Holdings, LLC and Silicon Valley Bank.
Furiex Reports Fourth Quarter And Full Year 2012 Financial Results
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