Discovery Laboratories, Inc.announcing financial results for the quarter ended June 30, 2009. For the three and six months ended June 30, 2009, the Company reported a net loss of $7.9 million (or $0.07 per share) and $16.9 million (or $0.16 per share), respectively, on 112.7 and 107.4 million weighted average common shares outstanding, respectively. As of June 30, 2009, the Company had cash and marketable securities of $23.4 million.
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The Company anticipates that its cash outflow for the second half of 2009 will be approximately $13 million, before taking into account any strategic alliances and or financing alternatives. In addition, as of June 30, 2009, the Company has a $10.3 million loan with Novaquest, a strategic investment group of Quintiles Transnational Corp., which is due and payable on April 30, 2010. The Company is pursuing restructuring the terms of this loan with Novaquest and assessing alternative means of financing its payment; however, there can be no assurance that any such restructuring will occur or financing alternatives will be obtained.
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