Unigene's quarterly revenue doubles; Fortical captures 25% market share

By Lisa Kerner

Charlotte, N.C., Aug. 10 - Unigene Laboratories, Inc. reported revenue for the three months ended June 30 of $556,000, up from $215,000 for the three months ended June 30, 2005.

The company's net loss for the second quarter increased to $3.0 million, or $0.03 per share, from a net loss of $2.5 million, or $0.03 per share, for the second-quarter 2005.

Total operating expenses in the second quarter rose to $3.3 million from $2.4 million for the comparable period in 2005.

Revenue for the six-month period ended June 30 also rose to $943,000 from $803,000 for the prior-year period.

Unigene's net loss for the six-month period increased to $6.2 million, or $0.07 per share, from a net loss of $5.7 million, or $0.07 per share, for the six months ended June 30, 2005.

The company's total operating expenses for the six-month period were also up at $6.5 million from $5.8 million for the prior-year period.

Fortical royalties were $348,000 for the second-quarter 2006 and $546,000 for the first half of 2006.

At June 30, Unigene's cash balance was $7.6 million, an increase of about $3.5 million from year-end.

The number of prescriptions written for Unigene's treatment for osteoporosis, Fortical, reached 60,000 for June, representing a 25% market share and a 42% increase since January, officials said.

Unigene is a Fairfield, N.J., biopharmaceutical company focusing on the oral and nasal delivery of large-market peptide drugs.

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