Pain Therapeutics Inc. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2012; Provides Cash Flow Guidance for the First Half of 2012
Pain Therapeutics Inc. reported unaudited earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported total revenue of $2,973,000 against $3,236,000 for the same period a year ago. Operating loss was $148,000 against $479,000 a year ago. Net income was $30,000 against net loss of $207,000 a year ago.
The company's net cash usage for the first half of 2012 continues to be expected to be under $5.0 million.