logo
Plus   Neg
Share
Email
Comment

Chelsea Therapeutics Q4 Loss Per Share Narrows

Chelsea Therapeutics International, Ltd. (CHTP) reported a fourth-quarter net loss of $12.5 million or $0.20 per share versus a net loss of $12.4 million or $0.25 per share for the comparable period in 2010.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Research and development expenses for the quarter were $7.7 million, compared to $10.2 million for the same period in 2010. The decrease in research and development expense was primarily the result of the completion of clinical trials and the associated decrease in drug development costs.

Selling, general and administrative (SG&A) expenses were $4.8 million compared to $2.3 million for the same period in 2010. The increase in SG&A expense during the quarter is primarily the result of costs associated with pre-launch sales and marketing initiatives including market research, promotional preparations and the addition of key personal working on launch preparations.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Tech giants Amazon.com, YouTube and Twitter as well as Verizon Communications are exploring bids for digital streaming rights to the National Football League or NFL's Thursday Night Football package, according to media reports. The NFL is likely to strike a multi-year deal for the digital streaming rights. However, the television audience for the NFL has declined for two consecutive years. Wynn Resorts Ltd. said Friday that former Chief Executive Officer Steve Wynn is not entitled to any severance payment of other compensation from the company. Wynn resigned last week as CEO and Chairman of the board following allegations of sexual misconduct. In a regulatory filing, Wynn Resorts said it entered into a separation agreement between Steve Wynn, and Wynn Resorts Holdings LLC. Beverages giant Coca-Cola Company on Friday reported a net loss for the fourth quarter, reflecting a one-time charge related to the U.S. tax reform and a double-digit decline in revenues. However, adjusted earnings per share matched analysts' expectations, while revenues beat their estimates. The company's shares are rising more than 2 percent in pre-market activity.
comments powered by Disqus
Follow RTT