Bioheart (BHRT) Reports a Q1 Loss
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Bioheart, Inc. (Nasdaq: BHRT) reports a Q1 loss of $0.24 compared to a loss of $0.18 for the same period last year.
Revenues for the quarter ended March 31, 2008 increased to $25,995 compared to $13,805 in first quarter of 2007. During the quarter, we also recognized $61,500 of development revenue for services performed under a clinical registry agreement.
Research and development expenses for the first quarter of 2008 were $1.4 million, comparable to $1.4 million in the first quarter last year. The primary focus of the Company's research and development activities during the quarter related to the MARVEL and SEISMIC Trials. The Company ended the quarter with cash and cash equivalents totaling $4.8 million.[SM]
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