Thallion Pharmaceuticals, Inc. announced unaudited consolidated earnings results for the first quarter ended February 28, 2013. For the quarter, the company reported collaboration and licensing revenues of $9,656,256 compared to $616,557 a year ago. The increase in first quarter revenue is due to the early termination of the development and license agreement with LFB in February 2013; as the company will no longer be continuing the development of Shigamabs(r) under the agreement nor receiving any further payments, the deferred revenue balance was recognized as collaboration and licensing revenues in the first quarter of 2013. Net earnings were $8,771,812 or $0.27 per basic and diluted share compared with a net loss of $835,254 or $0.03 per basic and diluted share in the first quarter of 2012. This increase in net earnings is primarily due to the recognition of $9,656,256 in collaboration and licensing revenues. Cash used in operating activities was $843,147 compared to $1,054,539 a year ago. Additions to property and equipment was $941. The company also announced that Mr. Roberto Bellini has resigned from the Board of Directors in order to pursue other interests. He had been a member of the company's Board since 2007.

Thallion Pharmaceuticals, Inc. reported consolidated earnings results for the fourth quarter and year ended November 30, 2012. For the quarter, the company reported collaboration and licensing revenues of $31,356. The decreases in revenues are primarily due to the anticipated decline in research and development expenses related to clinical development of Shigamabs®. The company recorded a net loss of $513,771 or $0.02 per share in the fourth quarter of 2012, primarily as a result of the $4,460,729 one-time gain recorded on the disposal of the company's equity investment in Caprion Proteomics Inc. For the year, the company recorded collaboration and licensing revenues of $1,414,692 compared to $3,205,428 a year ago. The company recorded net earnings and comprehensive income attributable to equity holders of the company of $1,649,545 or $0.05 per basic and diluted share compared with net loss and comprehensive loss attributable to equity holders of the company of $4,032,492 or $0.13 per share a year ago. Net operating loss before gain on disposal of investment in Caprion Proteomics Inc. was $2,811,184 compared to $4,032,492 a year ago. Cash flow from used in operating activities was $1,597,142 against $1,961,507 a year ago. Additions to property and equipment were $8,279 against $7,518 a year ago. Excluding this one-time gain, the company recorded an adjusted net loss of $2,811,184 or $0.09 per share in 2012, compared with a net loss of $4,032,492 or $0.13 per share in 2011, reflecting a decrease of $1,221,008 or 30% year-over-year. This improvement in net loss is mainly attributable to reduced R&D expenditures based on completion of the core Phase II SHIGATEC study in January 2012, lower G&A expenditures and higher foreign exchange gains recognized in 2012 as a result of changes in the fair value of foreign exchange forward contracts, partially offset by the lower collaboration and licensing revenues.

Thallion Pharmaceuticals, Inc. and LFB Biotechnologies announced that they have reached an agreement on the termination of their Development and Licensing Agreement related to Thallion's Shigamabs(R) program. All rights to the program will revert back to Thallion including all data, materials and know-how developed by and for LFB during the collaboration. LFB will cease to have any rights to the Shigamabs(R) program and all future quarterly payments due to Thallion by LFB in support of Shigamabs(R) development will terminate. LFB will pay for all outstanding and accrued costs related to product manufacturing and Thallion will be responsible for all remaining costs associated with the completion of the SHIGATEC Phase II clinical study.