Operating cash burn decreased by $1.5 million in the first quarter of 2013 to $4.2 million compared to the same period in 2012. At March 31, 2013, the Company had cash and cash equivalents totaling approximately $21.4 million and common shares outstanding of 27.6 million."In the first quarter we demonstrated the potential of our new commercial strategy to drive revenue growth and improve bottom line performance," said Eric Bouvier, President and Chief Executive Officer of BG Medicine. "Product sales increased compared with the same quarter a year ago, while we managed expenses tightly and continued to invest in activities that will drive sales sustainably over the long-term. We are encouraged by these results and believe they provide an early validation of the direction we are heading."
BG Medicine Reports 2013 First Quarter Financial Results
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