QualityStocks.net News – Despite Weakened Q4 and Year-End Results, Renovis, Inc. (RNVS) Shares Climb

At www.QualityStocks.Net you can sign up for Quality Stock's Daily Newsletter to find out what Small-Cap and Micro-Cap online Investment Newsletters are interested in, plus hear about the latest news from our clients as well as other publicly traded companies.

We would like to highlight Renovis, Inc. (NASDAQ: RNVS). The company is a biopharmaceutical company focused on the discovery and development of drugs for major medical needs in the areas of neurological and inflammatory diseases. The Company's proprietary research programs focus on the purinergic receptors, P2X3 and P2X7, for the potential treatment of pain and inflammatory diseases.

Renovis, Inc. (NASDAQ: RNVS) shares took a steady climb up the charts this week, stopping at $2.57 at the market’s close. Yesterday, the biopharmaceutical company announced its financial results for the fourth quarter and year ended Dec. 31, 2007, posting a decrease in revenues and net loss, while lowering R&D and overhead expenses.

Revenue for the fourth quarter and fiscal 2007 was $1.3 million and $9.8 million, respectively, as compared to $2.2 million and $10.4 million for 2006. Focused on the discovery and development of pharmaceuticals for the treatment of neurological and inflammatory diseases, Renovis attributes the change in revenues to the change in the amortization period for the license payment the company received from Pfizer in 2005. The agreement was to extend the collaboration for another year, extending the amortization period while lowering the upfront license fee.

In the press release, Executive Chairman John Walker noted two integral milestones for Renovis. Revovis had two preclinical programs supporting IND-enabling studies, as well as its partnership with Evotec.

“In 2007, we extended our VR1 collaboration with Pfizer and achieved two important milestones. The progress has been significant and allowed us to remain on track for initiating human clinical trials in 2008 … Equally important was our announcement in the third quarter that we had agreed to merge the company with Evotec, a Hamburg, Germany-based biotechnology company focused on the discovery and development of potential treatments for diseases of the central nervous system (CNS),” Walker stated.

“The combination of the two companies, which is expected to be completed in the first half of 2008, secures a place for Renovis’ preclinicial candidates in a robust CNS and inflammation-oriented pipeline, and creates a critical mass of scientific expertise and infrastructure. We believe that the prospect of an even stronger financial base as well as a globally integrated discovery and development team will provide enhanced value for our shareholders,” he continued.

Research and development expenses for the fourth quarter and year ended December 31, 2007, were reported at $6.2 million and $26.3 million, respectively, as compared to $7.4 million and $28.1 million, compared to the year prior.

General and administrative expenses were $2.9 million and $20.5 million during the fourth quarter and year ended December 31, 2007, as compared to $3.9 million and $15.6 million for the same periods of 2006.

Fourth quarter net loss for the year was $6.8 million, compared to $8.0 million in the fourth quarter of 2006. Net loss for 2007 was $32.8 million compared to $28.4 million for 2006.

About QualityStocks

QualityStocks.net, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks.net is dedicated to assisting emerging public companies with their advertising efforts and now has over 500,000+ subscribers that receive The Daily Stock Newsletters.

To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net

Please see disclaimer on QualityStocks.net website: http://Disclaimer.QualityStocks.net