MediGene previews 1st qtr results, progress
Previewing its results, the German biopharmaceutical company MediGene AGsays that the progress of product development, ie the start of three additional clinical trials, and the expansion of activities - especially in business development - have led to an operating loss of 3.4 million euros ($3 million) for the first quarter of 2001, compared with 1.7 million euros in the like period of 2000. The net loss includes expenses associated with its stock-for-stock acquisition of NeuroVir Therapeutics (Marketletter November 20 2000).
"Other operating income" in the period amounted to 1.2 million euros and was mainly generated by R&D payments, as well as legal-fee funding received from cooperation partners Aventis and Schering AG. This was down 7% on the first three months of 2000.
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