InterMune forecasts larger losses
US firm InterMune has issued a statement saying that net losses for 2001will be approximately $50-$55 million, up from an earlier forecast made in February which put the figure at $36 million. The company's net operating cash burn is expected to be $40-$45 million this year, though InterMune says its target of profitability by the end of 2003 remains unchanged.
Licensing deal with Amgen
The firm added that these figures do not include near-term milestone payments of up to $8 million to Amgen related to the licensing of the latter's hepatitis C treatment Infergen (interferon alfacon-1). Under the terms of the deal, InterMune will assume ongoing clinical activities for Infergen and receive the rights to Amgen's pegylation program and technology surrounding the drug. Specifically, the company believes that Infergen may have potential as a treatment for both hepatitis B and cancer.
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