MAP Pharmaceuticals Inc. (NASDAQ: MAPP) reported Tuesday that the company posted a narrower fourth-quarter loss, citing fewer expenses from on the development of candidate Levadex, according to Associated Press.
MAP recorded a loss of $13.4 million, or 54 cents per share, in its fiscal fourth quarter, compared to a loss of $21.8 million, or $1.07 per share. Revenue in the latest period was $2.8 million. It reported no revenue in the 2008 quarter.
Top Best Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move. Sign up for our Free Stock Newsletter.
According to a Thomson Reuters survey, analysts expected a loss of 41 cents per share and revenue of $2.2 million.
The company said its fourth-quarter research and development spending dropped to $12.4 million from $17.7 million.
The company reported a loss of $9 million, or 41 cents per share, in 2009, compared to $72.9 million, or $3.58 per share, in 2008. The company reported $51.2 million in collaborative revenue for the year, compared to none in 2008.
For 2010, MAP projects operating expenses of $42 million to $46 million, excluding stock-based compensation and depreciation costs.
Sign up for Top Best Penny Stocks' free newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
Follow us on Twitter: http://www.Twitter.com/topbestps
About Us
Top Best Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
