Gensia Inc substantially reduces loss in 1995

- Gensia Inc substantially reduced its loss in 1995 to $11.9 million or 36 cents from $56.1 million or $1.89 a year earlier. This was due to receipt of $55.4 million in one-time revenues and a reduction of $22.4 million in R&D expenses. Total revenues in 1995 were $122 million, up 69.9%.

For the fourth quarter of 1995, revenues at Gensia amounted to $72.5 million, which included one-time revenues of $55.4 million. Net income for the quarter amounted to $24.3 million or 71 cents, compared to a loss recorded in fourth quarter 1994 of $5.1 million or 16 cents.