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VaxGen releases first-quarter financial results; Ruth Kunath to step down from board.(Brief Article)
2002 JUN 19 - (NewsRx.com & NewsRx.net) -- VaxGen, Inc., (VXGN) announced that it recorded a net loss of $7.0 million, or 49 cents per share, before charges attributable to redeemable convertible preferred stock, for its first quarter ended March 31, 2002.
That compares with a net loss of $5.9 million, or 42 cents per share, in the first quarter of 2001. Including noncash charges associated with the company's $20 million redeemable convertible preferred stock financing, which closed in May 2001, the net loss applicable to common shareholders for the most recent quarter was $7.7 million, or 54 cents a share. Grant revenues for the most recent quarter were $18,000 compared with $75,000 in grant revenues in the first quarter of 2001.
As of March 31, 2002, VaxGen had $41.9 million in cash and investment securities, compared with $48.4 ...
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Source: HighBeam Research, VaxGen releases first-quarter financial results; Ruth Kunath to step...