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1440 Davey Road
Woodridge, IL 60517
For Immediate Release
Investor Relations Contact: Edward P. Flavin (630) 739-6744
Advanced Life Sciences
Announces Fourth Quarter and Full Year
Enrollment in first of two pivotal phase III trials for cethromycin completed
WOODRIDGE, IL, March 21, 2007/PRNewswire/: Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and inflammation, today announced its financial results for the fourth quarter and full year ended December 31, 2006.
The net loss allocable to common shareholders for the three months ended December 31, 2006 was $5.9 million or ($.21) per share compared to a net loss allocable to common shareholders of $2.6 million or ($.15) per share for the three months ended December 31, 2005. The net loss allocable to common shareholders for the full year 2006 was $20.7 million or ($.78) per share compared to a net loss allocable to common shareholders of $6.6 million or ($.49) per share for 2005. The increase in the net loss for both periods is due to increasing costs involved in the ongoing clinical development of the Companys lead compound cethromycin.
During 2006, Advanced Life Sciences initiated 200 clinical sites in 16 countries and made substantial progress in the enrollment of our two phase III clinical trials for cethromycin in community acquired pneumonia (CAP), said Michael T. Flavin, Ph.D., chairman and chief executive officer of the Company. In addition, during this past year, we set the stage for a timely and robust NDA submission and commercial partnership negotiations to insure a successful market launch of cethromycin. The competitive landscape has narrowed due to patent expirations and regulatory changes, creating an increased market opportunity for cethromycin.
We are looking forward to the achievement of key clinical and commercial milestones in 2007, continued Dr. Flavin. In conjunction with this we are pleased to announce the completion of enrollment for one of our two pivotal phase III clinical trials and we expect enrollment in our second trial to finish in the near future,
The Company ended 2006 with cash, cash equivalents and investments totaling approximately $27.1 million. Cash used was $5.0 million in the fourth quarter and $21.8 million for the full year period.
The following information was filed by Advanced Life Sciences Holdings, Inc. (ADLS) on Thursday, March 22, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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