Clinical Progress For US Biopharma Firms In 1st Qtr

US biopharmaceutical companies mostly posted losses in the first quarter of 1996, as many of them continue to invest in product development, and some such as Biogen, invest in bringing products to the market. Financial data is featured in the table below, amounts are expressed in millions, except per share data.

Agouron Pharmaceuticals posted financial results for the third quarter ended March 31, 1996, and for the nine-month reporting period. The firm said that its figures reflect its continuing investment in the clinical and commercial development of its anti-HIV agent Viracept (nelfinavir mesylate), and the anticancer agent Thymitaq (AG337).

Agouron received a milestone payment and program funding from Japan Tobacco of $24 million in the nine-month period in relation to Viracept. The firm raised net proceeds of $78.6 million from a secondary public offering of 3 million shares of common stock in September 1995.