3rd Qtr Revenues Up For US Drug & Biotech Firms

Aurora Biosciences Corp noted that this is the first quarter ofprofitability in the company's history, due primarily to revenues from the recently-initiated collaboration with Warner-Lambert (Marketletter September 29), along with income from alliances with major firms, including Bristol-Myers Squibb, Eli Lilly and Roche Biosciences.

Cell Genesys' loss for the quarter included expenses related to new programs assumed through the acquisition of Somatix Therapy Corp in May, 1997. The company added that its AIDS gene therapy is in Phase II human clinical testing and has initiated trials for its T cell gene therapy in colon cancer.

Cytogen said that the increase in revenues for the nine-month period was attributable to royalties earned on Quadramet (samarium Sm 153 lexidronam), for the relief of bone cancer pain, and sales of its ProstaScint (capromab pendetide) prostate cancer imaging agent. A 130% increase in operating expenses for the third quarter, to $16 million, was mainly due to a licensing fee of $7.5 million incurred by Targon Corp, Cytogen's subsidiary, to obtain exclusive rights to Morphelan (morphine sulphate) from Elan, its collaborative partner in the Targon venture.