4/30/2008 11:10:19 AM
PRINCETON, N.J., April 29, 2008 (PRIME NEWSWIRE) -- Barrier Therapeutics, Inc. (Nasdaq:BTRX), a pharmaceutical company that develops and markets dermatology products, today announced its financial results for the first quarter ended March 31, 2008. Total revenues were $8.4 million for the first quarter of 2008, up $5.6 million or 207% from $2.7 million in the first quarter of 2007. Net loss for the first quarter of 2008 was $14.0 million, or $0.40 per share, and represents a decrease of $1.4 million or 9% from the net loss of $15.4 million, or $0.53 per share in the same period last year. First quarter 2008 net loss includes $2.6 million of one time restructuring charges, primarily severance costs, from the Company's international and U.S. headquarters operations. Cash, cash equivalents and marketable securities were $37.3 million as of March 31, 2008. Net cash usage was $11.2 million for the first quarter of 2008.
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