Full Press Release Details
Third Quarter 2014 Financial Results
Buffalo Grove, Illinois (November 12, 2014) - RestorGenex Corporation (OTCQB: RESX), a specialty biopharmaceutical company initially focused on developing products for dermatology, ophthalmology and women s health, today reported on its cash balance as of September 30, 2014 and its financial results for the third quarter of 2014.
The Company s cash and cash equivalents as of September 30, 2014 were approximately $23.8 million. RestorGenex incurred a net loss of approximately $3.5 million or $(0.18) per share for the quarter ended September 30, 2014, compared to a net loss of $1.5 million or $(0.37) per share for the same period in 2013. The increase in the net loss was due primarily to higher expenses in 2014 associated with the Company s research and development efforts to advance its technologies and products.
The Company has no long-term debt. In July 2014, RestorGenex closed its fifth and final round of a private placement of common shares with gross proceeds to the Company of $35.6 million and net proceeds of approximately $31.3 million, after deduction for placement agent fees, estimated offering expenses and certain accounts payable.
About RestorGenex Corporation
RestorGenex Corporation is a specialty biopharmaceutical company initially focused on developing products for dermatology, ophthalmology and women s health. The Company is reviewing and intends to continue to review its products and technologies. The Company s prescription dermatology business primarily is based upon Company compounds under development for the treatment of keloid scarring and androgen excess, e.g. acne and hirsutism (unwanted excess hair). The Company s ophthalmology product, RES-529, will target age-related macular degeneration, based on inhibition of the PI3K/Akt/mTOR pathway. The Company s prescription women s health business is based upon a soft estrogen compound under development for vulvar and vaginal atrophy (VVA), a condition affecting peri- and post-menopausal women due to declining levels of estrogen. www.restorgenex.com
RestorGenex Corporation
Tim Boris, 805-229-1829