Interim Results From Xenova
Xenova of the UK has announced a net loss in the second quarter of 1996 of L1.7 million ($2.6 million), down from L2.3 million a year earlier. The loss per share in the second quarter was 14 pence. In the six-month period the loss was L3.1 million, down from L5 million. The decrease is attributed to lower R&D and general and administrative expenses in the first half of the year.
Revenues in the second quarter amounted to L417,000, up 13.6% and coming mainly from drug discovery collaborations. In the first half of the year revenues were L801,000, up 16.6%.
Xenova and partner Parke-Davis have commenced chemical and biological evaluation on a natural product discovered in their collaborative program.
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