Inyx sees 2nd-qtr loss of $9.8M, up 129%

USA-based Inyx, a specialty pharmaceutical company focused on niche delivery technologies and drugs, says that its losses for the second quarter 2006 were $9.8 million, or $0.20 per share, up 129.3% on the comparable period in 2005. The firm added that this included approximately $2.0 million in non-cash depreciation and amortization charges.

In addition, Inyx said that it had incurred $3.0 million in one-time expenses relating to its pending acquisition of six eye care products from fellow US group Advanced Medical Optics, as well as its imminent purchase of the Germany-based production business from an unnamed pan-European specialty pharmaceutical firm, which is expected to close in late September. The New York-headquartered company added that it has also entered into a 10 year exclusive manufacturing deal with the latter group.

Inyx said that despite its loss it expects its strategic moves to help it achieve net income in the fourth quarter of the year, with predicted revenues in the $140.0 million range.