LAKE BLUFF, Ill.--(BUSINESS WIRE)--NeoPharm, Inc. (Other OTC: NEOL.PK), today announced its first quarter 2009 financial results. For the first quarter ended March 31, 2009, NeoPharm reported a net loss of $2.3 million, or ($0.08) per basic and diluted share, as compared to a net loss of $1.5 million, or ($0.05) per basic and diluted share, for the same period last year. The increase in the Company’s 2009 first quarter net loss is primarily due to an increase in clinical trial and preclinical development activities, as the Company continues to progress its current drug compounds to their next stages of development, as well as a decrease in net interest income which was partially offset by a decrease in general and administrative expenses. This decrease in general and administrative expenses is primarily attributable to a reduction in internal and external accounting costs in connection with the Company’s voluntary decision to delist and deregister its common stock in January 2009 and opt-out of SEC reporting requirements.
