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Gentium says revenues for second-quarter, first half of 2006 are up
By Lisa Kerner
Charlotte, N.C., Aug. 15 - Gentium SpA said revenues for the second quarter ended June 30 were up at €1.15 million from €1.17 million for the second-quarter 2005.
Research and development expenses rose to €1.98 million for the quarter from €1.08 million for the quarter ended June 30, 2005.
Gentium reported a net loss for the second-quarter of €3.23 million, compared with €4.30 million in the prior-year period.
The company's second-quarter basic and diluted net loss per share of €0.32 was better than the €0.81 loss per share reported in the second quarter of 2005.
Gentium ended the second quarter of 2006 with €24.8 million in cash and cash equivalents, compared with cash and cash equivalents of €12.8 million as of Dec. 31, 2005.
For the six months ended June 30, total revenues rose to €2.10 million from €1.83 million for the first half of 2005.
The company said research and development expenses increased to €3.60 million in the six-month period from €1.73 million for the same period in 2005.
Gentium had a net loss for the period of €6.34 million, compared with a loss of €7.71 million for the six months ended June 30, 2005.
Basic and diluted net loss per share was €0.64 for the six months compared with €1.50 per share for the same six-month period in 2005.
Company highlights of the second-quarter 2006 and recent weeks include raising gross proceeds of $22.1 million in a follow-on equity offering and listing the company's American Depositary Shares on the Nasdaq National Market System (now the Nasdaq Global Market).
Phase 3 and phase 2/3 studies of Defibrotide in Veno-Occlusive Disease, and phase 1 studies of Defibrotide in myeloma continue in the United States and Europe.
Gentium is a biopharmaceutical company located in Como, Italy.
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