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Second quarter 2002 financial results reported by gene, cell therapy technology.(Brief Article)

Vaccine Weekly

| September 25, 2002 | COPYRIGHT 2002 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

2002 SEP 25 - (NewsRx.com & NewsRx.net) -- Targeted Genetics Corp. (TGEN) announced that for the quarter ended June 30, 2002, it reported a net loss of $6.4 million compared with $5.9 million for the second quarter of 2001.

Net loss per common share was $0.15 for the second quarter of 2002 and $0.13 for the same period in 2001.

For the 6-month period ended June 30, 2002, the company reported a net loss of $12.8 million compared with $12.1 million for the same period in 2001. Net loss per common share was $0.29 for the 6 months ended June 30, 2002 compared with $0.28 for the same period in 2001.

Revenue for the second quarter of 2002 was $4.6 million, compared with $4.3 million for the second quarter of 2001. Revenue for the 6-month period ended June 30, 2002 was $10.0 million, compared with $8.1 million for the same period in 2001. The increases in revenue reflect expanded activities under the company's hemophilia product development collaboration with Wyeth Pharmaceuticals and the company's AIDS vaccine collaboration with the International AIDS Vaccine Initiative.

Increases for the quarter and the year to date were partially offset by lower revenues earned under the company's development program for the treatment of cystic fibrosis, which continued in clinical development but involved lower levels of research and ...

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Source: HighBeam Research, Second quarter 2002 financial results reported by gene, cell therapy...

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