REGENERON DEEPENS LOSSRegeneron Pharmaceuticals Inc. (REGN) reported a nearly 11-fold larger second-quarter loss of $3.7 million, or 24 cents ashare. Revenues declined 2 percent during the quarter to $3.2million. The company attributed the results to acceleratedproduct development and research programs. Regeneron hasstarted clinical testing of ciliary neurotrophic factor (CNTF) totreat amyotrophic lateral sclerosis (ALS).
Univax Biologics Inc. (UNVX) tripled its second-quarter loss to$2.5 million, or 23 cents a share, while doubling its revenues to$711,000. Research and development spending more thantripled in the quarter to $2.9 million.
Greenwich Pharmaceuticals Inc. (GRPI) said it cut its second-quarter loss by 17 percent to $2.9 million, or 11 cents a share.Revenues declined 42 percent to $712,000 for the quarter as aresult of reduced payments from Syntex Corp. for conductingclinical trials of Therafectin (amiprilose HC1). It said it had $9.8million in cash as of June 30.
Protein Design Labs Inc. (PDLI) reported a $920,303 second-quarter loss, or 7 cents a share, that was 20 percent deeperthan the comparable $738,357 loss for the same period lastyear. Revenues rose 72 percent to $1.1 million. The companysaid it expected start in the next few months clinical trials of itsSmart M195 for treating myeloid leukemia. PDL said it had$52.1 million in cash and equivalents as of June 30.
ChemTrak Inc. (CMTR) reported a tripling in its second-quarterloss to $3 million, or 34 cents a share, which included a $1.2million one-time charge resulting from correcting a productcontamination problem. Revenues grew 236 percent in thequarter to $296,000, largely as a result of increased shipmentsof Acumeter Cholesterol Test.
Anergen Inc. (ANGR) reported a $1.3 million second-quarterloss, or 22 cents a share, that was 29 percent deeper than the$974,000 loss posted for the year-ago quarter. Research anddevelopment costs rose 58 percent to $1 million. The company,which is development therapies for autoimmune disorders, had$11.5 million in cash and equivalents as of June 30.
Sepracor Inc. (SEPR) cut by more than two-thirds its second-quarter loss to $2.5 million, or 13 cents a share, compared withan $8 million loss for the same period last year. Revenuesjumped 230 percent to $4.4 million, largely due a line ofchromatographic media and supplies acquired last year fromRhone-Poulenc. The company said it had $13.1 million in cashand equivalents as of June 30.
Molecular Biosystems Inc. (NYSE:MBI) attributed a $1.6 millionfirst-quarter loss, or 14 cents a share, to increased researchand development spending and preparations to launch itsflagship product, Albumex, which has been recommended byan FDA advisory panel.
The company posted a $1.1 million profit, or 10 cents a share,for the comparable period a year ago. Revenues for the recentquarter were $1.3 million, down 75 percent. It reported $68.3million in cash and equivalents as of June 30.
Biogen Inc. (BGEN) said second-quarter profits that can beapplied to common stock dropped 37 percent to $665,000,while per-share profits were 2 cents, off from 4 cents for ayear ago. The company paid a $1.2 million preferred stockdividend during the 1991 quarter.
Revenues increased 21 percent to $20.9 million, with thelargest component, royalties and product sales, showing a 28percent gain to $17.6 million. Research and developmentspending rose 49 percent to $15.1 million.
Collaborative Research Inc. (CRIC) said it cut by half its loss forthe third quarter ended May 30 to $425,000, or 4 cents ashare. Revenues declined 35 percent to $1.6 million, reflectingthe company's divestiture last August of a biomedical productsdivision. Expenses were trimmed 39 percent to $2 million.
Collaborative, which is involved in genome mapping andsequencing, advanced DNA diagnostic testing and drugdevelopment, reported $7.2 million in cash as of May 30.
Genetics Institute Inc. (GENIZ) posted a $5 million loss for thesecond quarter ended May 31, which was a 1 percentimprovement from the like quarter a year ago. The recentresults reflect payment of an $1.1 million preferred stockdividend. On a per-share basis, the loss was equivalent to 25cents, versus a 42-cent loss a year ago. Losses from operationswere $8.8 million, 50 percent deeper than last year's period.Revenues rose 11 percent to $15.9 million. Genetics Institutelisted $338.3 million in cash and equivalents as of May 31.
Hycor Biomedical (HYBD) reported a 260 percent increase insecond-quarter profits to $788,000, or 9 cents a share.Revenues rose 139 percent to $6.8 million, largely as a result tolast year's acquisition of Ventrex Laboratories.
ImmuLogic Pharmaceutical Corp. (IMUL) posted a $3.6 millionsecond-quarter loss, 67 percent deeper than the like year-agoperiod. On a per-share basis, the loss was 29 cents vs. 28 centsa year ago. Revenues increased 65 percent to $1.7 million, duelargely to a threefold percent rise in interest income to$897,000.
A 56 percent rise in research and development spending to$3.9 million includes the costs of starting clinical trials of thecompany's Catvax allergy treatment.
MGI Pharma Inc. (MOGN) said it cut its second-quarter loss 31percent to $2.3 million, or 20 cents a share vs. a 40-cent losslast year. Revenues, which fell 27 percent to $1.2 million,continued to be hurt by increased competition for Didronel I.V.infusion in the hypercalcemia market. The company said it hadcash and equivalents of $33.5 million as of June 30.
All quarterly results are for periods ending on or about June30, unless otherwise noted. All stock symbols are for NASDAQlistings, unless otherwise noted.
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