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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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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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