Interim Financial Results From The USA
US pharmaceutical and biotechnology firms reporting financial results include:
Aquila Biopharmaceuticals' results for the third-quarter and the nine-month period ended September 30, 1996, reflect consummation of the Cambridge Biotech Corporation reorganization plan. As part of the plan, CBC was sold to bioMerieux Vitek, and prior to the sale, CBC's therapeutic assets were transferred to Aquila (Marketletters passim).
Alison Taunton-Rigby, president and chief executive of Aquila, said the firm "has been launched with a solid financial base for advancing the development of our proprietary products for the prevention or treatment of infectious diseases and cancer, as well as for supporting the corporate licensees of our Stimulon adjuvants. We are initiating a rights offering to raise additional funds to accelerate these efforts." She noted that as an emerging biopharmaceutical company, Aquila expects to incur lossess in the future as it invests in its new product development programs.
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