Newport Pharmaceuticals Reports Loss of $48,000
Newport Pharmaceuticals International Inc. of Newport Beach reported a loss of $48,000 for the first quarter, contrasted with the $271,000 loss in the prior year.
Revenues for the period ended July 31 were $2.3 million, up 9% from the $2.1 million reported the year before.
During the next three months, Newport expects to begin three major clinical studies on its drug, Isoprinosine.
The company said the tests, involving a total of 2,000 patients, are designed to obtain data supporting Newport’s application to the U.S. Food and Drug Administration for approval to use the drug to treat pre-AIDS patients.