LAKE BLUFF, Ill.--(BUSINESS WIRE)--NeoPharm, Inc. (Other OTC: NEOL.PK), today announced its second quarter 2009 financial results. For the second quarter ended June 30, 2009, NeoPharm reported a net loss of $1.9 million, or ($0.07) per basic and diluted share, as compared to a net loss of $2.0 million, or ($0.07) per share, for the same period last year. For the six months ended June 30, 2009, NeoPharm reported a net loss of $4.2 million, or ($0.15) per basic and diluted share, compared to a net loss of $3.6 million, or ($0.13) per share, for the same period last year. The increase in the Company’s net loss for the six months ended June 30, 2009 is primarily due to increases in clinical trial and preclinical development activities, as the Company continued progress of its current drug compounds to their next stages of development, as well as decreases in net interest income which was partially offset by decreases in general and administrative expenses. The decreases in general and administrative expenses are primarily attributable to reductions in accounting, legal and other public company 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.
