BioXell's worsened loss adds to elocacitrol blow
Italian drug developer BioXell reported a full-year 2008 loss that had worsened by 10% year-on-year, despite a 50% jump in turnover, in the wake of the failure of its elocalcitol trial (Marketletter April 13).
The firm generated 1.5 million euros ($2.0 million) in revenue versus 1.0 million euros in 2007. R&D costs were up 12% to 11.6 million euros.
The company's net loss deepened to 14.8 million euros vs a loss of 13.5 million euros. As of December 31, 2008, the firm had 43.6 million euros in cash and cash equivalents, reduced by 24% year-on-year. However, BioXell maintains that this will fund its activities for the next three years at least.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
| Headless Content Management with Blaze