Operating Results
We incurred a net loss attributable to Capstone Therapeutics stockholders in 2012 of $3.6 million compared to a net loss of $9.7 million in 2011. The decrease in the net loss for the year ended December 31, 2012 compared to 2011 resulted primarily from the reduction in staff in the fourth quarter of 2011 and other actions taken by the Company to wind down internal operations and move to a virtual operating model. This decrease was partially offset by costs of approximately $139,000 related to the LipimetiX Development, LLC joint venture transaction we entered into on August 3, 2012, and the research and development expenses of LipimetiX Development, LLC, of $1,133,000 (net of intercompany transactions of $50,000) net of the net loss of $473,000 allocated to noncontrolling interest for 2012.
