MediGene narrows Q3 net loss to 6.5 mln eur on reduced costs
12.11.2003 13:05:58, AFX Europe Focus
MARTINSRIED, Germany (AFX) - MediGene AG said it narrowed its third quarter
net loss by 23 pct to 6.5 mln eur as the bio-pharmaceutical company cut its
research and development costs.
R&D costs fell 30 pct to 5.178 mln eur in the third quarter, MediGene said.
MediGene's cash position as of September 30 was 27.738 mln eur.
MediGene reiterated that it expects a net loss of 30 mln eur for the
full-year, and a cash position of 20 mln eur at the end of the year.
MediGene said it expects before the end of this year approval from the
German authorities for Leuprogel, its drug to treat prostate cancer, which would
make MediGene the first German biotech with a drug ready for marketing.
"The conclusion of a marketing partnership for Leuprogel with a well-
established pharmaceuticals company is also expected by the end of the financial
year," MediGene said.
daniel.smith@afxnews.com
das/jfr
12.11.2003 13:05:58, AFX Europe Focus
MARTINSRIED, Germany (AFX) - MediGene AG said it narrowed its third quarter
net loss by 23 pct to 6.5 mln eur as the bio-pharmaceutical company cut its
research and development costs.
R&D costs fell 30 pct to 5.178 mln eur in the third quarter, MediGene said.
MediGene's cash position as of September 30 was 27.738 mln eur.
MediGene reiterated that it expects a net loss of 30 mln eur for the
full-year, and a cash position of 20 mln eur at the end of the year.
MediGene said it expects before the end of this year approval from the
German authorities for Leuprogel, its drug to treat prostate cancer, which would
make MediGene the first German biotech with a drug ready for marketing.
"The conclusion of a marketing partnership for Leuprogel with a well-
established pharmaceuticals company is also expected by the end of the financial
year," MediGene said.
daniel.smith@afxnews.com
das/jfr