DALLAS, April 1, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring OXiGENE Inc. (Nasdaq:OXGN). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.beaconequity.com/i/OXGN
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OXiGENE Inc. (OXGN) is a clinical-stage, biopharmaceutical company developing therapeutics to treat cancer and eye diseases. The Company's primary focus is the development and commercialization of product candidates referred to as vascular disrupting agents (VDAs) that selectively disable and destroy abnormal blood vessels that provide solid tumors a means of growth and survival and also are associated with visual impairment in a number of ophthalmological diseases and conditions. Approximately 375 subjects have been treated with ZYBRESTAT in human clinical trials.
In the report, the analyst notes:
"The Company reported a consolidated net loss for the fourth quarter of 2009 of $7.5 million, compared with a consolidated net loss of $2.3 million for the same period in 2008. The consolidated net loss for the quarter ended December 31, 2009, was impacted primarily by an increase in operating expenses of approximately $2.8 million and a reduction in the non-cash gain attributable to changes in the fair value of warrants and other financial instruments of approximately $2.2 million.
"ZYBRESTAT is being evaluated in a phase 2 study of patients with non-small cell lung cancer and other clinical trials. OXGN believes that ZYBRESTAT is poised to become an important product in a novel class of small-molecule drug candidates called vascular disrupting agents (VDAs)."
To read the entire report visit: http://www.beaconequity.com/i/OXGN
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