PRINCETON, N.J., Aug. 14 /PRNewswire-FirstCall/ -- DOR BioPharma, Inc. (DOR or the Company), a late-stage biopharmaceutical company, today announced its financial results for the second quarter of 2009.
DOR's net loss for the second quarter of 2009 was approximately $1.8 million, or $0.01 per share, compared to $1.3 million, or $0.01 per share, for the second quarter of 2008. The net loss for the first half of 2009 was approximately $3.9 million compared to $2.6 million for the first half of 2008. These larger net losses were primarily attributed to increased research and development (R&D) spending of $1.4 million for the first half of the year (or $391,000 for the second quarter) in preparation for the initiation of the confirmatory Phase 3 clinical trial of orBec((R)) for the treatment of acute gastrointestinal Graft-versus-Host disease (GI GVHD).
General and administrative (G&A) expenses for the second quarter of 2009 and 2008 were essentially flat year over year at $0.6 million, while G&A expenses for the first half of 2009 decreased to $1.1 million from $1.4 million for the first half of 2008.
DOR's Recent Highlights:
On July 8, 2009, DOR announced that it received a European patent addressing its Lipid Polymer Micelle (LPM(TM)) technology for the improved oral delivery of drugs.
On June 29, 2009, DOR announced the publication in Bone Marrow Transplantation of orBec(R) clinical pulmonary data by investigators at the Fred Hutchinson Cancer Research Center in Seattle, Washington.
About DOR BioPharma, Inc.
DOR BioPharma, Inc. (DOR) is a late-stage biopharmaceutical company developing products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, and vaccines for certain bioterrorism agents. DOR's lead product, orBec((R)) (oral beclomethasone dipropionate or BDP), is a potent, locally acting corticosteroid being developed for the treatment of GI GVHD, a common and potentially life-threatening complication of hematopoietic cell transplantation. DOR expects to begin a confirmatory Phase 3 clinical trial of orBec((R)) for the treatment of acute GI GVHD and a Phase 1/2 clinical trial of DOR201 in radiation enteritis in the second half of 2009. orBec((R)) is also currently the subject of an NIH-supported, Phase 2, randomized, double-blind, placebo-controlled trial in the prevention of acute GVHD. Oral BDP may also have application in treating other gastrointestinal disorders characterized by severe inflammation. Additionally, DOR has a Lipid Polymer Micelle (LPM(TM)) drug delivery technology for the oral delivery of leuprolide for the treatment of prostate cancer and endometriosis.
For further information regarding DOR BioPharma, Inc., please visit the Company's website at www.dorbiopharma.com.
SOURCE DOR BioPharma, Inc.
CONTACT: Evan Myrianthopoulos, Chief Financial Officer of DOR BioPharma,
Web site: http://www.dorbiopharma.com/