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UPDATE 1-Labopharm loss narrows despite revenue drop Fri Aug 8, 2008 8:24am EDT Email | Print | Share| Reprints | Single Page| Recommend (0) [-] Text [+] Related News IMAX loss deepens on digital technology costs 07 Aug 2008 First Solar Q2 net soars past view, shares rise 30 Jul 2008 powered by Sphere Market News Wall St rallies as oil's slide spurs optimism | Video Oil falls as dollar rises, ignores Georgia conflict Fannie shares fall on quarterly loss More Business & Investing News... Featured Broker sponsored link (Adds details) TORONTO, Aug 8 (Reuters) - Labopharm Inc (DDS.TO: Quote, Profile, Research, Stock Buzz) reported a smaller second-quarter loss on Friday despite a slip in revenue as it neared preparation of a new drug application for its anti-depression treatment. The small Canadian biotechnology company said it lost C$10.1 million ($9.4 million), or 18 Canadian cents a share, for the quarter ended June 30, compared with a loss of C$11 million, or 19 cents a share, for the same period last year. Revenue for the quarter was C$4.9 million, down from C$5.9 million for last year's quarter, hurt by a decrease in licensing revenue from Purdue Pharma related to its once-daily tramadol pain-relief formula. Licensing revenue, which includes a portion of payments received from its licensing and distribution partners for Labopharm's version of tramadol, was C$1.1 million, down from C$1.7 million for the same quarter last year. Research and development expenses were C$6.3 million, up from C$5.7 million. Expenses typically mount for biotech companies as they advance further into trials before receiving regulatory approval. The company said it was in the final stages of preparing a new drug application for an antidepressant that it hopes to submit to the U.S. Food and Drug Administration some time in the third quarter. It is still waiting for a decision from the FDA on its once-daily version of the tramadol formula. The agency said last month it planned to make a decision by Jan. 2, 2009. ($1=$1.06 Canadian) (Reporting by Scott Anderson; Editing by Peter Galloway) |
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| aus der Diskussion: | Labopharm ....Nur geschenkt ist noch billiger |
| Autor (Datum des Eintrages): | Bombenleger (08.08.08 19:44:18) |
| Beitrag: | 24 von 324 (ID:34688724) |
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