Cadus Reports Third Quarter 2012 Results
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/15/12 -- (OTCQB: KDUS) announced yesterday its financial results for the third quarter ended September 30, 2012.
Revenues for the three months ended September 30, 2012 were $0, compared to $0 for the same period in 2011. Net loss for the three months ended September 30, 2012 increased to $211,032, compared to a net loss of $146,895 for the same period in 2011. The increase in net loss can be principally attributed to an increase in general and administrative expenses of $127,315, an increase in interest income of $102 and a decrease in abandoned asset acquisition costs of $63,091, compared to the same period in 2011. Basic net loss per share for the three months ended September 30, 2012 was $0.02, compared to basic net loss per share for same period in 2011 of $0.01.
Revenues for the nine months ended September 30, 2012 were $0, compared to $0 for the same period in 2011. Net loss for the nine months ended September 30, 2012 increased to $522,149, compared to a net loss of $394,213 for the same period in 2011. The increase in net loss can be principally attributed to an increase in general and administrative expenses of $189,970, a decrease in interest income of $1,045, and a decrease in abandoned asset acquisition costs of $63,091, compared to the same period in 2011. Basic net loss per share for the nine months ended September 30, 2012 was $0.04, compared to basic net loss per share for the same period in 2011 of $0.03.
As of September 30, 2012, Cadus had 13,144,040 shares outstanding.
This press release may contain forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company's annual report on Form 10-K for the year ended December 31, 2011. These include risks and uncertainties relating to the company's ability to license its technologies to third parties, the company's ability to acquire and operate other companies, the company's capital needs and uncertainty of future funding, the company's history of operating losses, the unpredictability of patent protection and the risk of obsolescence of the company's technologies.
Contact:
David Blitz
(212) 575-7800
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Datum: 15.11.2012 - 18:33 Uhr
Sprache: Deutsch
News-ID 204343
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Biotech
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