FAIRFIELD, N.J., Aug. 16 /PRNewswire-FirstCall/ -- Astralis Ltd (BULLETIN BOARD: ASTR) announced today its results for the period ending June 30, 2004. For the period from January 1, 2004 through June 30, 2004, the Company recorded a net loss of $14.4 million, or $ 0.21 per share, which includes a non-cash Preferred Stock Dividend of $10.7 million. The Company had no revenue during this period. Total stockholders'' equity was $7.9 million as of June 30, 2004 and the Company had cash and marketable security balances totaling $3.98 million as of June 30, 2004.
Research and development expenses amounted to $2.4 million for the period ending June 30, 2004. This includes spending on Phase II clinical trails for Psoraxine(R), the Company''s first drug candidate for the treatment of Psoriasis.
Astralis Ltd. (A Development Stage Entity) Selected Statement of Operation Information (Unaudited) January 1, 2004 to June 30, 2004 Revenues $-- Total Operating Expenses 3,650,643 Loss from Operations ($3,650,643) Other Income Investment Income $27,925 Net Loss (3,622,718) Preferred Stock Dividends (10,750,000) Net Loss to Common Stockholder $(14,372,718)
Astralis Ltd
Research and development expenses amounted to $2.4 million for the period ending June 30, 2004. This includes spending on Phase II clinical trails for Psoraxine(R), the Company''s first drug candidate for the treatment of Psoriasis.
Astralis Ltd. (A Development Stage Entity) Selected Statement of Operation Information (Unaudited) January 1, 2004 to June 30, 2004 Revenues $-- Total Operating Expenses 3,650,643 Loss from Operations ($3,650,643) Other Income Investment Income $27,925 Net Loss (3,622,718) Preferred Stock Dividends (10,750,000) Net Loss to Common Stockholder $(14,372,718)
Astralis Ltd