AtheroGenics posts $1.5 million operating loss, no revenues in March

By Caroline Salls

Pittsburgh, April 20 - AtheroGenics, Inc. reported a $1.5 million operating loss for March on zero revenues, according to its monthly operating report filed Monday with the Securities and Exchange Commission.

In comparison, the company posted a $1.11 million operating loss in February, also on zero revenues.

The net loss for March was $1.72 million, widening from a $1.23 million February net loss.

The company had $46.3 million in cash and cash equivalents at March 31, down from $47.79 million at the end of February.

Atlanta-based AtheroGenics develops drugs for the treatment of chronic inflammatory diseases. The company agreed to have its involuntary Chapter 7 bankruptcy case converted to a Chapter 11 case on Oct. 7, 2008. The case number is 08-78200.

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