Neurologix, Inc. (OTCBB:NRGX) announced today its financial results for the second quarter and six months ended June 30, 2009.
For the three months ended June 30, 2009, the Company reported a net loss of $2.2 million, as compared with a net loss of $1.4 million for the three months ended June 30, 2008. The Company reported a net loss applicable to common stock for the second quarter of 2009 of $3.0 million, or $0.11 per basic and diluted share, as compared with a net loss applicable to common stock of $2.8 million, or $0.10 per basic and diluted share, for the same period in 2008.
The net loss applicable to common stock for the three months ended June 30, 2009 includes charges of $0.7 million, or $0.03 per basic and diluted share, related to preferred stock dividends in connection with the Company’s Series D Convertible Preferred Stock (the “Series D Stock”) and the Company’s Series C Convertible Preferred Stock (the “Series C Stock”). For the three months ended June 30, 2008, the net loss applicable to common stock includes charges of $1.4 million, or $0.05 per basic and diluted share, related to the accretion of beneficial conversion features ($0.8 million) in connection with the issuance of the Series D Stock in April 2008, as well as preferred stock dividends ($0.6 million) in connection with the Series D Stock and the Series C Stock.