Oxygen Biotherapeutics Inc.(OXBT: Quote) reported a first-quarter net loss of $3.6 million, wider than $2.9 million in the prior year quarter. Loss per share for the latest first quarter was $0.22, narrower than $0.33 per share in the same quarter last year.
Net operating loss for the first quarter narrowed to $1.68 million from $2.43 million in the comparable quarter last year.
Total net revenue rose to $272,096 from $24,873 for the comparable quarter in the previous fiscal year.
Product revenue for the quarter decreased to $11,458 compared to $59,477 in the same quarter in 2011 primarily due to the reduction in our internal sales force and termination of existing distribution agreements in the prior year.
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by RTT Staff Writer
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