CHICAGO (Reuters) – Novogen Ltd. on Friday said it won clearance from the U.S. Food and Drug Administration to go ahead with the final phase of human clinical testing on its lead anti-cancer drug, phenoxodiol.
Separately, the company said its revenue for the year ended June 30, 2006, was $13.9 million, up 3.2 percent over the previous year.
Cash reserves at year-end were $25.4 million, down $10.5 million from a year before.
Research and development spending rose $1.4 million to $9.1 million, from $7.7 million in the previous period. The increase mostly reflects costs associated with its pre-clinical and clinical drug development program and the scale-up and drug manufacturing process development costs for human clinical testing of phenoxodiol.
Source: Reuters
