NovaBay Pharmaceuticals reports Q2 results

EMERYVILLE, Calif. A clinical stage biopharmaceutical company reported a 63.5% increase in license and collaboration revenue for second quarter.

License and collaboration revenue consists of the amortization of the upfront technology access fees previously paid by our corporate partners, and reimbursements for the funding of research and development activities, and payments for milestones achieved.

Meanwhile, second-quarter net loss totaled $0.3 million, or $0.01 per share, compared with a net loss of $2.4 million, or $0.11 per share, reported for second quarter 2008.

Research and development expenses for the quarter ended June 30 totaled $1.4 million, compared with $2.4 million for the year-ago period. The decrease was due to budget reductions at year end 2008 resulting in decreased headcount, and delayed research, development, and clinical expenses.

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