Nabi Biopharmaceuticals credits PhosLo sales with rise in second-quarter revenues to $29.9 million

By Lisa Kerner

Charlotte, N.C., July 26 - Nabi Biopharmaceuticals said its total revenues were $29.9 million for the second quarter of 2006, up from total revenues of $25.9 million in the second quarter of 2005.

The company attributes the increase to improved pricing and strong demand for PhosLo (calcium acetate).

Nabi had a net loss for the quarter ended July 1 of $14.8 million, or $0.24 per share, an improvement over the net loss of $20.9 million, or $0.35 per share, for the same period in 2005.

Cash equivalents and marketable securities were $70.2 million at the end of the second-quarter 2006.

Nabi said cash used in operations improved 48% from the first quarter of 2006, to $11.5 million.

"We continued to make progress in achieving our important strategic objectives in the second quarter," chief executive officer and president Thomas H. McLain said in a news release.

"We are delighted with the recent vote by the BPAC, recommending Food and Drug Administration approval of our BLA [Biologics License Application] for Nabi-HB Intravenous. This is a major step toward approval of this product for its use in liver transplant patients in the United States."

Nabi is a biopharmaceutical company based in Boca Raton, Fla.

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