Nucryst reports first-quarter net loss of $2.9 million

By Lisa Kerner

Erie, Pa., May 3 - Nucryst Pharmaceuticals Corp. recorded a net loss of $2.9 million, or $0.17 per share, on revenues of $6.3 million for the first quarter ended March 31.

For the same period last year, the company reported a net loss of $1.4 million, or $0.14 per share, on revenues of $4.1 million.

As of March 31, Nucryst had $29.3 million in cash and short-term investments.

"Nucryst continued to make progress with both our Silcryst medical coatings business and our pharmaceutical research and clinical trials during first quarter of 2006,"president and chief executive officer Scott H. Gillis said in a company news release.

"During the quarter, we expanded and strengthened our dermatology patent portfolio to cover acne in addition to the patents we already have for atopic dermatitis and psoriasis."

Located in Wakefield, Mass., Nucryst develops, manufactures and commercializes medical products for infection and inflammation using its patented nanocrystalline silver technology.

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