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ID Biomedical Records Loss For Second Quarter.
2001 SEP 19 - (NewsRx.com & NewsRx.net) --
ID Biomedical, Vancouver, B.C., recorded a net loss of $2.3 million or ($0.08) per share for the three months ended June 30, 2001, as compared with a net income of $1.9 million or $0.09 per share for the same period of 2000.
The net loss for the six months ended June 30, 2001 was $3.4 million or ($0.12) per share, as compared with net income of $0.1 million or $0.01 per share for the same period in 2000. In the comparable period the Company recognized a significant%age of the up front payment from its agreement with Applied Biosystems.
As of June 30, 2001 the Company's cash and investments totaled approximately $40 million. Revenue for the quarter was $1.3 million versus $4.2 million for the comparable period of 2000. For the six months ended June 30, 2001 revenue was $2.5 million as compared to $4.4 million the six months ended June 30, 2000.
Commenting on the results of the quarter Todd Patrick, president and COO of ID Biomedical said, "We now have approximately $80 million in total assets, giving ID Biomedical the wherewithal to advance our clinical programs. This includes making the necessary investments to our infrastructure to support planned Phase II trials of ...
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Source: HighBeam Research, ID Biomedical Records Loss For Second Quarter.