Gentium 1Q revenues up, company reports loss per share of €0.32

By Lisa Kerner

Erie, Pa., May 18 - Gentium SpA's total first-quarter revenues of €0.95 million were up from €0.66 million for the same period last year.

The company reported a slight decrease in first-quarter net loss of €3.10 million, or €0.32 per share, compared with €3.41 million, or €0.68 per share in the year-ago period.

Total product sales for the three-month period increased by €0.32 million, or 54%, compared with the same period in 2005 due primarily to higher sales volumes of urokinase.

Gentium had cash and cash equivalents totaling €9.75 million as of March 31.

"Gentium got off to a strong start in 2006, marked by continued progress with our clinical development programs for Defibrotide," chairman and chief executive officer Laura Ferro said in a news release.

"Most notably, we initiated our U.S. phase 3 trial of Defibrotide to treat Severe VOD (veno-occlusive disease), a life threatening disease for which there are currently no treatment options."

"We also commenced our VOD prevention program with the initiation of our pediatric prevention phase 2/3 trial in Europe and look forward to initiating our phase 2/3 European prevention trial in adults in the near future."

Gentium, located in Como, Italy, is a biopharmaceutical company focused on the treatment and prevention of vascular diseases and conditions related to cancer and cancer treatments.

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