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Theratechnologies second-quarter, six-month revenues down
By Lisa Kerner
Charlotte, N.C., July 5 - Theratechnologies reported consolidated revenues for the second quarter ended May 31 of $395,000, down from $631,000 in the comparable 2005 period.
For the six-month period ended May 31, consolidated revenues were $870,000, compared with $15.73 million for the same period in 2005. The exceptionally high revenues in 2005 included $14.64 million for terminating three co-development projects with ALZA Corp.
The company said revenues for the quarter and for the first six months of the current year are mainly composed of interest from investments.
Theratechnologies had an operating loss for the three-month period of $6.2 million, up from the $4.8 million for the same period in 2005.
For the six-month period ended May 31, the operating loss was $11.7 million, up from operating earnings of $5.6 million in 2005.
For the second quarter of 2006, the company's reported net loss was $6.2 million, down from $12.7 million in 2005.
The company had a net loss for the six-month period of $11.7 million, compared to $3.5 million the previous year.
"During the quarter, we reached all of the milestones of our phase 3 study on TH9507 in HIV-associated lipodystrophy and we remain committed to announcing its results around the end of the year," president and chief executive officer Yves Rosconi said in a company news release.
"What's more, through a $22 million financing completed in this quarter, we now stand with liquidities of $48 million and we are in good shape to complete the rest of our phase 3 program according to plan."
Theratechnologies is a Canadian biopharmaceutical company.
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