Agouron Reduces Net Loss Boosted By Viracept

In the fiscal third quarter ended March 31, 1997, AgouronPharmaceuticals reduced its net loss to just under $5 million, or 37 cents, from $11 million, or $1.04, in the like, year-earlier period. The firm's revenues for the quarter amounted to $38.61 million.

Agouron's vice president, finance, and chief financial officer, Steven Cowell, said that the quarterly and year-to-date operating results were significantly impacted by the clinical development and commercialization of Viracept (nelfinavir). "Initial Viracept sales in the two weeks following its approval by the US Food and Drug Administration on March 14 generated a gross margin contribution of over $7 million, and a new Viracept marketing agreement with Hoffmann-La Roche generated $9 million in initial license fees," commented Mr Cowell.

The firm's R&D expenditure, which was $28.43 million in the third quarter, up 66.6%, reflects significant increases in the size and cost of Viracept clinical trials and expanded access programs, he said.