Progenics reports $2.4 million loss in Q2
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- August
- 8
Progenics Pharmaceuticals of Eastview said this morning its $2.4 million second-quarter loss matched its loss from the second quarter of last year. On a per-share basis, the company lost 8 cents, compared to 9 cents last year.
Revenues grew to $28.6 million from $25.5 million.
The company said it earned a $15 million payment during the quarter when the U.S. Food and Drug Administration approved its application to market the constipation drug Relistor, which is the company’s first commercial product. The company got a $9 million payment last year in connection with the drug application.
This year’s quarter also included $321,000 in royalties based on sales of the drug. The company recognized $42,000 of that as revenue during the quarter.
This entry was posted
on Friday, August 8th, 2008 at 8:38 am by Allan Drury.
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