Biomira Announces Smaller 2nd Qtr Loss Of C$5.3 Million

Biomira Inc of Canada reports a loss of C$5.3 million ($3.9 million), or C$0.21 per share, for the three months to June 30, compared with a loss of C$10.5 million in the like, year-earlier quarter. For the 1995 second-quarter revenues were C$1.8 million, compared with C$2.0 million for the like 1994 period.

The decreased loss, Biomira explains, is attributable to a non-cash expense recorded in 1994 relating to the acquisition of the remaining 50% interest in the Radioimmunoimaging Partnership.

Revenues for the first six months were C$3.6 million, up 16.1%. Included in the year-to-date revenues are six months' Biomira Diagnostics' sales, as compared to four months' for the same period in 1994. The consolidated net loss for the current six-month month period was C$10.7 million, versus C$4.5 million.