Progenics loss widens
-
- May
- 9
Progenics Pharmaceuticals Inc., an Eastview company that is about to start marketing a drug for the treatment of constipation in patients who are on certain pain relievers, lost $15.5 million, or 52 cents a share, during the first quarter of this year.
The loss widened from the $10.4 million, or 40 cents a share, reported for last year’s first quarter, the company said this morning.
Revenues dropped to $14.8 million from $17.6 million.
Most of the revenue came from reimbursements Progenics got from drug giant Wyeth for work Progenics did developing a drug under an agreement the company’s have.
The U.S. Food and Drug Administration last month approved the company’s application to market Relistor for patients on pain medications for advanced illnesses. Some of those pain medications cause constipation that cannot be relieved with laxatives.
Progenics is also testing a drug for the treatment of the AIDS virus.
This entry was posted
on Friday, May 9th, 2008 at 8:56 am by Allan Drury.
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Category: Earnings season
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