Myrexis, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2011
February 09, 2012 at 04:15 pm
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Myrexis, Inc. reported unaudited earnings results for the second quarter and six months ended December 31, 2011. For the quarter, the company reported operating loss of $7.610 million compared to $9.212 million a year ago. Other net income was $0.100 million compared to $1.349 million a year ago. Net loss was $7.510 million compared to $7.863 million a year ago. Loss per basic and diluted share was $0.29 compared to $0.31 a year ago.
For the six months, the company reported operating loss of $16.295 million compared to $19.382 million a year ago. Other net income was $0.199 million compared to $1.509 million a year ago. Net loss was $16.096 million compared to $17.873 million a year ago. Loss per basic and diluted share was $0.62 compared to $0.71 a year ago. The net cash used in operating activities was $13.3 million for the six months ended December 31, 2011, compared to $15.4 million for the same six month period in 2010.
Myrexi, Inc. is a development-stage company. The Company was a biopharmaceutical company that generated a pipeline of differentiated drug candidates in oncology and autoimmune diseases. In February 2012, it announced that the Company has suspended development activity on all of its preclinical and clinical programs and retained Stifel Nicolaus Weisel, an investment banking firm, to assist in reviewing and evaluating a full range of strategic alternatives to enhance shareholder value. The Company determines to pursue the acquisition of one or more commercial-stage biopharmaceutical assets, with the goal of building a commercial-stage biopharmaceutical company. The Company operates in pharmaceutical development and related research activities. The Companyâs revenues were derived from research performed in the United States and, all of the Companyâs long-lived assets are located in the United States.
MYREXIS, INC. 
