Biomira's Sales Advance In 2nd Qtr

Canadian company Biomira posted sales of C$2 million ($1.44 million) for the six months ended June 30, doubling from the like, year-earlier period as a result of the acquisition of ADI in February this year. A net loss of C$10.5 million was announced, compared with a loss of C$4.1 million a year earlier. The loss per share was C$0.48.

The loss in 1994 included a C$4.8 million non-cash expense relating to the one-time acquisition of the remaining 50% interest in the Radioimmunoimaging Partnership. Biomira will be required to pay royalties on products incorporating the Partnership's technology.

For the six-month period, Biomira achieved revenues of C$3.1 million, up 34.8% compared to the previous year. The loss from continuing operations was C$14.9 million or C$0.68 per share. Consolidated net loss was C$3.9 million, compared to C$8.3 million a year earlier. The company indicated that the results are in line with projections.