Akela Pharma Inc. AKLPF

Akela Pharma reports results

[Biostocks01]

AUSTIN, TX, Aug. 14, 2012/CNW Telbec/ - Akela Pharma, Inc. ("Akela"), (TSX: AKL), an industry leader in providing contract drug formulation development as well as pharmaceutical clinical and commercial manufacturing, today announced its financial results for the three and six months ended June 30, 2012.

Consolidated net revenues for the three months ended June 30, 2012were $2.8 million, as compared to $3.1 million, for the same period during the previous year.  Consolidated revenues for the six months ended June 30, 2012were $3.7 millionas compared to $7.3 millionfor the same period in 2011.

Consolidated net income (loss) for the three months ended June 30, 2012was
.71 million, or
.02per share, versus (
.52) million or (
.02) per share, for the same period in 2011. Consolidated net income (loss) for the six months ended June 30, 2012was ($1.45) million vs.
.48 million, for the same period in 2011.

 

 

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2012		2011		2012		2011
Total Income (Loss) and Comprehensive Income (Loss)			709		(516)		(1,453)		478
Earnings per share
Basic net income (loss) per share			0.02		(0.02)		(0.04)		0.01
	Diluted net income(loss)  per share		0.02		(0.02)		(0.04)		0.01
Basic weighted average number of shares outstanding			32,390,338		32,390,338		32,390,338		32,390,338
	Diluted weighted average number of shares outstanding		33,676,225		32,525,685		33,676,225		32,525,685

 

The Company had a cash balance of
.2 millionas of June 30, 2012compared with
.8 millionas of March 31, 2012.

Akela Pharma Inc. announced two promotions today with W. Blair West, Ph.D., Akela's senior director of pharmaceutical operations being named chief scientific officer and {C}Berenice Brownlee{C}, Akela's vice president of finance, being named chief financial officer