| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for BioCryst Pharmaceuticals, Inc. > News item |
BioCryst third-quarter net loss doubles to $15.6 million
By Lisa Kerner
Charlotte, N.C., Nov. 8 - BioCryst Pharmaceuticals, Inc. said its net loss for the third quarter of 2006 was $15.6 million, or $0.53 per share, double the net loss of $7.6 million, or $0.29 per share, for the third quarter of 2005.
Revenue for the quarter increased to $1.8 million from $32,000 for the prior-year period.
The company's research and development expenses were up at $16.6 million for the three months, from $7.1 million for the third quarter of 2005.
Total expenses for the third quarter rose significantly to $18.2 million, from $8.0 million for the same period in 2005. BioCryst attributed the increase primarily to clinical and manufacturing costs for peramivir and Fodosine.
At Sept. 30, cash, cash equivalents and investments totaled $61.6 million, up slightly from $60.0 million at Dec. 31, 2005.
Third-quarter company highlights included Food and Drug Administration approval of a Fodosine (forodesine hydrochloride) clinical trial in patients with T-cell leukemia/lymphoma and presentation of positive results from clinical studies of peramivir in patients with influenza.
In addition, BioCryst chairman and chief executive officer Charles E. Bugg announced his intention to retire from the CEO position in 2007.
For the nine months ended Sept. 30, BioCryst reported a net loss of $33.6 million, or $1.15 per share, increased revenue of $4.1 million, research and development expenses of $36 million and total expenses of $40.4 million.
Located in Birmingham, Ala., BioCryst develops novel therapeutics to treat cancer, cardiovascular diseases, autoimmune diseases and viral infections.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.