NEWTON, Mass.--(BUSINESS WIRE)--Pro-Pharmaceuticals, Inc. (Amex: PRW), a developer of first-in-class carbohydrate-based therapeutic compounds, today reported its first quarter financial results, ended March 31, 2007.
For the first quarter of 2007, the Company reported a net loss of $5,574,000, or $(0.16) per share, compared with a net loss, as restated, of $8,326,000, or $(0.30) per share, for the same period in 2006. Approximately $3.4 million of the net loss in the first quarter of 2007 was non-cash expense relating to the change in fair value of the convertible debentures and warrant liabilities compared with approximately $6.3 million in the first quarter of 2006.
