HORSHAM, Pa.--(BUSINESS WIRE)--Neose Technologies, Inc. (NasdaqGM:NTEC) today announced financial results for the second quarter ended June 30, 2007. For the quarter ended June 30, 2007, the Company reported a net loss of $5.2 million, or $0.09 per basic and diluted share, compared to a net loss of $8.4 million, or $0.26 per basic and diluted share, for the second quarter in 2006. The decreased net loss for the 2007 period was primarily due to non-cash income of $1.9 million recorded due to a decrease in the fair value of the Company’s warrant liability, a $0.5 million increase in revenues, and a $0.5 million income tax benefit resulting from the sale of certain of the Company’s Pennsylvania research and development tax credits.
