NEWTOWN, Pa.--(BUSINESS WIRE)--Feb. 28, 2006--CollaGenex Pharmaceuticals, Inc. (NASDAQ:CGPI) today reported financial results for the fourth quarter and year ended December 31, 2005. Net revenues were $3.0 million in the fourth quarter of 2005 compared to $13.2 million in the fourth quarter of 2004, reflecting significantly reduced sales of Periostat(R) following the introduction of generic competition in May 2005. Net loss for the fourth quarter of 2005 was $6.4 million compared to net income of $3.4 million for the fourth quarter of 2004. Net loss allocable to common stockholders for the fourth quarter of 2005 was $10.5 million, or $0.72 per basic and diluted share, compared to net income allocable to common stockholders of $3.0 million, or $0.21 per basic and diluted share, in the fourth quarter of 2004.
