Crucell's sales up 67%, as Berna buy increases loss

Dutch biotechnology firm Crucell NV says that, for the third quarter of 2006, it saw losses of 21.7 million euros ($27.8 million), equivalent to 0.36 euros per share, up 486% on its 3.7 million-euro loss in the comparable period in 2005. The firm said that the delisting of the recently purchased Berna Biotech (Marketletters passim) had been largely responsible for the deepening deficit.

Crucell's revenues for the period increased 67% to 28.5 million euros, with sales of its products contributing 22.0 million euros. The firm said that the majority of its turnover, which historically is concentrated in the second half of the year, is expected in the fourth quarter as a result of the late start of the influenza season this year. The company added that the revenue contribution from its licensing activities was 2.0 million euros, down 2.3 million from the comparable quarter last year. It said that this was a result of a decrease in chargeable development activities now that the majority of its programs have entered clinical trials.