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Drugs

Alpha-Beta Technology Inc. Reports Second Quarter Loss

Strategic Insights

— 1 min read

Alpha-Beta Technology Inc., a company developing proprietary pharmaceutical products, reported a net loss of $6,329,779 for the second quarter of 1995, resulting in a loss of $0.54 per share. The significant loss was attributed to the expanded development and Phase III clinical trial of BETAFECTIN(R) PGG-glucan, the company's lead product. Despite the loss, the company recently secured $8.3 million in private financing, bringing its total cash reserves to approximately $36 million.

Key Takeaways:

  • Alpha-Beta Technology Inc. reported a net loss of $6,329,779 for the second quarter of 1995, resulting in a loss of $0.54 per share.
  • The company's financial results reflect expanded efforts in the development and Phase III clinical trial of BETAFECTIN(R) PGG-glucan.
  • Alpha-Beta Technology Inc. raised $8.3 million in private financing, increasing the company's cash reserves to approximately $36 million.
  • The company's lead product, BETAFECTIN PGG-glucan, is a proprietary carbohydrate immunotherapeutic targeted for the prevention and treatment of infection.
  • The company focuses on developing novel classes of proprietary pharmaceutical products composed of complex carbohydrates.

Statistics:

  • Net loss for the second quarter of 1995: $6,329,779
  • Loss per share: $0.54
  • Revenues: $477,997
  • Expenses: $6,807,776
  • Non-cash expenses (depreciation and amortization): $1,288,659
  • Cash and cash equivalents: approximately $36 million
  • Private financing raised: $8.3 million

Sources:

  • "Alpha-Beta Technology Inc. Reports Second Quarter Loss." Business Wire, 15 Aug. 1995, sec. 09:15 EST.

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