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Cyclacel Pharmaceuticals, Inc. (CYCC) Reports Third Quarter 2013 Financial Results


11/13/2013 9:57:11 AM

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BERKELEY HEIGHTS, N.J., Nov. 12, 2013 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (Cyclacel or the Company), a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious disorders today reported its financial results and business highlights for the third quarter ended September 30, 2013. The net loss for the third quarter of 2013 was $5.0 million versus a net loss for the third quarter of 2012 of $1.9 million. As of September 30, 2013, cash and cash equivalents totaled $34.5 million. The Company's net loss applicable to common shareholders for the third quarter of 2013 was $5.7 million, which includes $2.6 million of expense related to clinical trial drug supply, or $0.32 per basic and diluted share, compared to a net loss applicable to common shareholders of $2.1 million or $0.25 per basic and diluted share for the third quarter of 2012.

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