BioMarin's 2nd-qtr 2007 loss widens to $3.9M
USA-based BioMarin Pharmaceutical says that, for the second quarter of 2007, its net loss was $3.9 million, or $0.04 per share, versus $1.3 million, $0.02 per share in the like, year-ago period. The wider deficit was partly due to a $4.3 million vs $2.1 million non-cash stock compensation expense, the firm noted.
The firm also attrbuted its disappointing results to lower royalties from Orapred (prednisolone sodium phosphate oral solution). Income from this product range, used in the treatment of asthma, from licensee Alpharetta, Georgia, USA-headquartered Alliant Pharmaceuticals, fell to $4.0 million from $9.2 million.
Net sales of Naglazyme (galsulfase), an enzyme replacement therapy for mucopolysaccharidosis VI (MPS VI), increased to $20.9 million vs $10.3 million, and was also up from $18.4 million earned in first-quarter 2007, representing a sequential increase of approximately 13.6%.
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