Transcept Pharmaceuticals Inc (Nasdaq: TSPT), a speciality pharmaceutical company, reported on 13 May a net loss attributable to common stockholders of USD8.5m (USD0.95 per share) for the quarter ended 31 March 2009.
This is an increase from the net loss of USD5.1m (USD14.11 per share) for the quarter ended 31 March 2008.
The weighted average common shares used to calculate earnings per share were 9,003,067 and 359,602 respectively for the quarters ended 31 March 2009 and 2008.
During this year's first quarter Transcept recorded merger-related transaction costs of approximately USD2.2m.
Research & development expenses for the quarter decreased by USD1.4m to USD2.2m, with lower Intermezzo development costs following the submission of the NDA on 30 September 2008.
General & administrative expenses for the first quarter this year increased by USD2.7m to USD4.2m due to higher professional fees to operate as a public company, increased personnel costs primarily in marketing and administration, increased market research expenses and an increase in operational expenses associated with the addition of the Novacea office space in South San Francisco.
Cash, cash equivalents and marketable securities amounted to USD81.0m as of 31 March 2009.
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