Company to hold Conference Call on March 11, 2009
NEW HAVEN, Conn., March 10 /PRNewswire-FirstCall/ -- VION PHARMACEUTICALS, INC. (OTC BULLETIN BOARD: VION) today announced financial results for the full year and fourth quarter of 2008.
The Company reported a net loss of $29.8 million, or $4.04 per share, for the year ended December 31, 2008, compared with a net loss of $34.0 million, or $5.05 per share, for 2007. Weighted-average common shares outstanding for the years ended December 31, 2008 and December 31, 2007 were 7.4 million and 6.7 million, respectively.
The Company reported ending the year with $38.0 million in cash and cash equivalents.
In February 2009, the Company submitted a New Drug Application with the U.S. Food and Drug Administration for its lead anticancer agent Onrigin (laromustine) Injection for remission induction treatment for patients sixty years of age or older with de novo poor-risk acute myeloid leukemia.
Alan Kessman, Chief Executive Officer, commented, 'We are pleased to have submitted the New Drug Application for Onrigin in February. In the coming months, we will be interacting with the FDA on the application.'
A net loss of $6.9 million, or $0.93 per share, was reported for the fourth quarter of 2008, compared with a net loss of $8.2 million, or $1.18 per share, for the same period in 2007. Weighted-average common shares outstanding for the three months ended December 31, 2008 and 2007 were 7.5 million and 6.9 million, respectively.
Conference Call
The Company will hold a conference call at 8:30 a.m. Eastern Time on March 11, 2009 to discuss its operations and financial results.
To participate in the conference call, please dial (866) 202-3048 in the U.S. ((617) 213-8843 for international callers) at least 15 minutes before the start of the call. When prompted for a pass code, please enter 74961546.
An audio webcast of the call will be accessible at www.vionpharm.com. Those who wish to listen to the conference call on the Web should visit the Investor Relations section of the Company's website at least 15 minutes prior to the event broadcast, and follow the instructions provided to assure that the necessary audio applications are downloaded and installed.
