Hana Biosciences, Inc. Reports First Quarter 2006 Results

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--May 4, 2006--Hana Biosciences (Nasdaq:HNAB - News), a biopharmaceutical company focused on advancing cancer care reported a net loss of $3.4 million, or $0.15 per share for the quarter ended March 31, 2006, compared to a net loss of $2.4 million, or $0.18 per share, in 2005. Total operating expenses for the first quarter increased by approximately 47% compared to the first quarter of 2005. This increase was attributable to the continued accelerated development of the company's clinical pipeline. Cash used in operations was $3.1 million in the first quarter. Hana ended the quarter with approximately $13.9 million in cash and cash equivalents, compared to $17.0 million at year end of 2005.