EAST WINDSOR, NJ -- (MARKET WIRE) -- November 09, 2006 -- NexMed, Inc. (NASDAQ: NEXM), a developer of innovative pharmaceutical products based on its NexACT® transdermal drug delivery technology, today announced its third quarter 2006 financial results. For the quarter ending September 30, 2006, the Company recorded revenue of $446,268 which was primarily attributable to the revenue recognized for the Novartis licensing agreement. For the quarter, the net loss applicable to common stock was $1,987,835 or $0.03 per share, as compared to $3,493,054 or $0.07 per share for the same period in 2005. The decrease in net loss applicable to common stock is primarily attributable to the reduction in overhead and decreased spending on NM100060, our nail lacquer product for onychomycosis, as Novartis has taken over all future development. As of September 30, 2006, the Company had approximately $6 million in cash and short-term investments.
