BETHESDA, Md.--(BUSINESS WIRE)--REGENERX BIOPHARMACEUTICALS, INC. (AMEX:RGN), today announced results for the fourth quarter and year ended December 31, 2007. The company reported a net loss of $11.2 million or $0.24 per share for the year ended December 31, 2007, compared with a net loss of $8.3 million or $0.21 per share for the year ended December 31, 2006. For the fourth quarter 2007 the company’s net loss was $3.5 million or $0.08 per share compared with a net loss of $1.6 million or $0.04 per share for the same period in 2006. The net loss for the fourth quarter and the year ended December 31, 2007 resulted primarily from the continued research and development expenditures related to ongoing Phase II clinical trials to study RGN-137, the company’s product candidate for the treatment of chronic dermal wounds, research and development efforts related to its technology platform, scale-up manufacturing and formulation efforts related to RGN-259 and RGN-352 for two clinical trials in the ophthalmic and cardiovascular fields, respectively, and administrative costs associated with managing the company’s projects. RegeneRx’s product candidates are based on thymosin beta 4 (Tß4), a synthetic copy of a naturally-occurring peptide present in all mammals. RegeneRx has approximately $13.3 million in cash and short-term investments to finance operations through 2008, including approximately $8.3 million at December 31, 2007 in addition to $5.0 million received from the issuance of common stock and warrants to purchase common stock at the end of February 2008.
