Arno Therapeutics, Inc. announced consolidated unaudited financial results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported loss from operations of $3,891,000 against $5,899,000 a year ago. Net income was $4,563,000 against net loss of $23,739,000 a year ago. Net income per diluted share was $0.18 against net loss per diluted share of $1.51 a year ago. Adjusted net loss (non-GAAP) was $2,830,000 against $5,366,000 a year ago. Adjusted net loss per basic share was $0.14 against $0.34 a year ago. The primary factor for the $2.5 million year-over-year improvement in adjusted (non-GAAP) net loss compared to the fourth quarter of 2013 was reduced spending on non-clinical research and CMC activities in 2014 totaling $2.1 million.

For the full year, the company reported loss from operations of $21,493,000 against $16,941,000 a year ago. Net income was $7,771,000 against net loss of $39,657,000 a year ago. Net income per diluted share was $0.31 against net loss per diluted share of $5.28 a year ago. Adjusted net loss (non-GAAP) was $16,898,000 against $15,037,000 a year ago. Adjusted net loss per basic share was $0.83 against $2.01 a year ago. The $1.9 million increase in adjusted (non-GAAP) net loss for the full year 2014, was due to increased R&D expenses, primarily associated with the initiation in 2014 of the two phase I/II clinical trials for onapristone.