MicroStockProfit.com: CRXX's total revenues reach $8.6M in fourth-quarter 2009

MicroStockProfit.com announces an investment report featuring CombinatoRx Inc. (Nasdaq:CRXX). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.

The full report is available at: www.microstockprofit.com/ads/CRXX

CombinatoRx Inc. (CRXX) is a biopharmaceutical company focused on developing synergistic combination pharmaceuticals. The Company has devoted substantially all of its resources to the development of its drug discovery technology and the research and development of its drug candidates, including conducting preclinical and clinical trials and seeking intellectual property protection for its technology and product candidates. Its portfolio of clinical product candidates targets multiple diseases including immuno-inflammatory diseases, metabolic disease, chronic pain and topical dermatoses. In December 2009, CombinatoRx and Neuromed Pharmaceuticals Inc. announced that they have merged. 

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In the report, the analyst notes:

"Total revenue was $8.6 million in the fourth quarter of 2009 compared to $3.5 million reported in the fourth quarter of 2008. For the year ended December 31, 2009, revenue was $17.3 million compared to $12.3 million for 2008. Revenue increased from 2008 to 2009 due to the accelerated recognition of deferred revenue related to the early termination of the Company's agreement with Angiotech.

"Net income for the quarter ended December 31, 2009, was $25.2 million, or $0.57 per share, as compared to a $15.2 million loss, or ($0.43) per share, in the fourth quarter of 2008. Stock-based compensation expense was approximately $0.8 million in the fourth quarter of 2009 as compared to $0.9 million in the fourth quarter of 2008."