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Immunotherapy company's second-quarter revenue dips.
2004 SEP 1 - (NewsRx.com & NewsRx.net) -- Corixa Corp. (CRXA), a developer of immunotherapeutics, announced financial results for the second quarter ended June 30, 2004.
For the second quarter of 2004 Corixa reported total revenue of $5.8 million, compared with total revenue of $20.0 million for the second quarter of 2003. The decrease in 2004 second-quarter revenues compared with 2003 is due primarily to one-time milestone and reimbursement revenue received in the second quarter of 2003 from GSK following U.S. Food and Drug Administration approval of BEXXAR. Net loss applicable to common stockholders for the second quarter of 2004 was $10.6 million, compared with net loss of $20.9 million for the second quarter of 2003.
The net loss for the second quarter of 2004 includes other income of $9.9 million which represents the $20 million payment received from Biogen IDEC for the settlement of BEXXAR patent litigation net of the portion paid to other parties. The net loss for the second quarter of 2003 included a $12.6 million impairment charge associated with lease-related assets.
For the first 6 months of 2004, Corixa reported total revenue of $13.1 million, compared with total revenue of $29.1 million for the first 6 months of 2003. Net loss applicable to common stockholders for the first 6 months of 2004 was $31.7 million, compared with ...
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