wegen des Rückschlags mit dem Lupusmittel Prestara
Aus dem Report vom 10.5.2005 www.pinksheets.com/quote/filings.jsp?symbol=GNLB Net loss per common share – basic and diluted (0,03 )
Net decrease in cash and cash equivalents (4,909)
Cash and cash equivalents, end of the period $ 21,449
On April 6, 2005, Genelabs announced that results of a preliminary analysis of a nine month Phase III clinical trial conducted by its licensee, Genovate Biotechnology Co., Ltd., or Genovate, did not demonstrate a statistically significant benefit among the patients receiving prasterone, the active ingredient in Genelabs investigational new drug for lupus, compared to the patients taking placebo
Genelabs’ net loss was $2.8 million for the three months ended March 31, 2005, compared to a net loss of $4.8 million for the three months ended March 31, 2004. The decreased net loss is mainly due to higher contract revenue from a new research collaboration and license agreement with Gilead Sciences, Inc.Contract revenue was $1.6 million in the first quarter of 2005 compared to $0.5 million in the first quarter of 2004.
Genelabs’ business plans depend on FDA approval of Prestara in the United States, and if we are not able to obtain FDA approval for Prestara in a timely manner, our business would suffer because we would not be entitled to a milestone payment from Watson; we would not receive royalties from Prestara sales in the United States, which are our most significant near-term source of potential revenue; and the prospects for Prestara in other countries would be substantially diminished.
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