Regeneron loss narrows
-
- February
- 27
Regeneron Pharmaceuticals, which has its headquarters in Eastview, lost $13.1 million during the fourth quarter of last year, compared with a loss of $31 million a year earlier, the company reported this morning.
On a per-share basis, the company lost 19 cents a share, compared with 51 cents in the fourth quarter of 2006.
Revenues rose to $64.73 million, from $10.25 million.
Regeneron shares closed at $18.46 yesterday, down 20 cents.
The company announced in November it would receive an $85 million upfront payment from French pharmaceutical company Sanofi-Aventis SA as part of an agreement to develop therapeutic antibodies for arthritis and cancer.
Regeneron and Bayer HealthCare AG are working on a treatment for eye disease in the elderly.
This entry was posted
on Wednesday, February 27th, 2008 at 9:52 am by Allan Drury.
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