1st-Half Net Loss At NeuroSearch

Danish company NeuroSearch has announced a heavier-than-expected net lossof 20.7 million Danish kroner ($3.0 million) for the first six months of 1997, owing to an increase of 53.2% in R&D costs, according to the firm. This compares with 19 million kroner net profit posted for the like, year-earlier period.

Revenues for the six months totaled 9.5 million kroner, down from 42.2 million kroner for the same period last year, as a result of differences in agreed upfront and milestone payments from strategic partners and licensees. The increased level of investment in R&D has forced NeuroSearch to revise its full-year estimated loss to 25-30 million kroner from the original expectation of 15-20 million kroner.

Principal projects under development include the anti-Parkinson's disease drug NS2214 (brasofensine), which is now in Phase II clinical trials, and NS2710, for the treatment of anxiety.