As of October 30, 2012, Nabi Biopharmaceuticals was acquired by Biota Holdings Limited, in a reverse merger transaction. Nabi Biopharmaceuticals, a biopharmaceutical company, focuses on the development of vaccines for unmet medical needs, including nicotine addiction. The company engages in developing NicVAX, a proprietary investigational vaccine for the treatment of nicotine addiction and prevention of smoking relapse based on patented technology. It has an option and licensing agreement with GlaxoSmithKline Biologicals S.A. to develop, commercialize, and manufacture NicVAX and follow-on nicotine addiction vaccines; a license agreement with National Institutes of Health to use rEPA carrier ...
12276 Wilkins Avenue
Rockville, MD 20852
Founded in 1967
Nabi Biopharmaceuticals Terminates Raafat Fahim as President and Chief Executive Officer
Nov 15 12
Nabi Biopharmaceuticals announced that in connection with the business combination transaction with Biota Holdings Limited, effective upon November 8, 2012, Raafat Fahim, Ph.D, was terminated as President and Chief Executive Officer of the company.
Nabi Biopharmaceuticals Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2012
Nov 8 12
Nabi Biopharmaceuticals announced unaudited consolidated earnings results for the second quarter and six months ended September 30, 2012. For the quarter, the company reported revenue of $632,000 compared to $1,086,000 a year ago. Operating loss was $4,118,000 compared to $4,937,000 a year ago. Loss from continuing operations before income taxes was $4,090,000 compared to $4,922,000 a year ago. Loss from continuing operations was $4,090,000 or $0.12 per basic and diluted share compared to $2,904,000 or $0.07 per basic and diluted share a year ago. Net loss was $4,090,000 compared to net profit of $78,000 a year ago.
For the six months, the company reported revenue of $1,895,000 compared to $14,003,000 a year ago. Operating loss was $9,156,000 compared to $7,753,000 a year ago. Loss from continuing operations before income taxes was $8,921,000 compared to $7,541,000 a year ago. Loss from continuing operations was $8,250,000 or $0.21 per basic and diluted share compared to $5,523,000 or $0.13 per basic and diluted share a year ago. Net loss was $7,259,000 compared to $2,541,000 a year ago. Net cash used in operating activities was $5,586,000 compared to $14,459,000 a year ago. The decrease in cash used is primarily due to a reduction in NicVAX-related clinical and manufacturing activities in 2012 as compared to 2011 and a reduction in overall operating costs.