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Oncology drug maker reports 66% increase in revenue.
2003 SEP 1 - (NewsRx.com & NewsRx.net) -- Aeterna Laboratories, Inc., (AEL; AELA) reported total revenues for the second quarter ended June 30, 2003, of $38.9 million, an increase of 66% compared with total revenues of $23.4 million for the 2002 second quarter.
During the second quarter of 2003, product sales increased 18% to $27.6 million, and the company also recorded $11.3 million in license income and research contract fees related to marketed products and products in development. The gross margin on product sales for the 2003 second quarter was improved to 26% compared with 24% for the same period last year.
Aeterna's investment in R&D during the second quarter of 2003 was $11 million, up from $5.3 million during the comparable period last year. The increase is primarily associated with the acquisition of Zentaris, which provided the company with 11 additional products. Spending on the company's Neovastat phase III clinical trials in …
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Source: HighBeam Research, Oncology drug maker reports 66% increase in revenue.
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