Arpida's 2005 R&D costs rise 66% on iclaprim

Arpida, a Swiss biopharmaceutical company focused on drugs for severe bacterial infections, says that it did not generate any revenues during 2005, while in 2004 it saw income of 58,360 Swiss francs ($44,897) from a fee-for-service transaction. However, the firm noted that the disparity arose because it was acquired on October 14, 2004, and so its costs are only reflected in the remaining two months of the year. For 2005, the costs are included in the consolidated result, which is largely the reason for the firm's 66% rise in R&D expenses to 17.6 million francs, as well as higher general and management costs. Arpida says that the hike in R&D costs also reflects its Phase III trials with its broad-spectrum antibiotic iclaprim.

The company's May 2005 initial public offering on the SWX Swiss Exchange raised 97.2 million francs. Despite tough market conditions, Arpida said it raised the full amount that it sought. After a difficult first day of trading, shares recovered and ended the year at 15.30 francs, equating to a market capitalization of 250.5 million francs and, on February 24, 2006, they stood at 21.85 francs per share.