Hollis-Eden Pharmaceuticals reports second-quarter net loss of $8.1 million

By Lisa Kerner

Charlotte, N.C., Aug. 4 - Hollis-Eden Pharmaceuticals, Inc. reported a net loss of $8.1 million, or $0.33 per share, for the second quarter ended June 30, an increase from a net loss of $6.6 million, or $0.33 per share, in the second quarter of 2005.

The company had interest income of $0.7 million for the three-month period, up from $0.4 million for the same period in 2005.

For the six months ended June 30, Hollis-Eden reported a net loss of $15.0 million, or $0.62 per share, compared to a net loss of $13.4 million, or $0.68 per share, in the first six months of 2005.

Interest income for the six-month period was up at $1.3 million, from $0.7 million in the prior-year period.

Included in the net loss for the second quarter and first half of 2006 was $1.0 million and $2.3 million, respectively, of stock-based compensation expense. There were no such comparable expenses in 2005, according to the company.

As of June 30, Hollis-Eden reported $53.5 million in cash and cash equivalents.

Second-quarter company highlights included Food and Drug Administration approval to begin a phase 1/ 2 dose ranging human clinical trial with Neumune in patients at high risk of developing health care-associated (nosocomial) infections.

The company also continued its progress in the development of second-generation drug candidates through its Hormonal Signaling Technology Platform.

Hollis-Eden is a San Diego-based pharmaceutical company.

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