Milestone Boost Fourth Quarter For Scios

A$12 million milestone payment in the 1996 fourth quarter fromWyeth-Ayerst relating to the recent collaboration on Fiblast (trafermin) for treating cardiovascular and neurological disorders took Scios into the black. Fourth-quarter revenues were $24.4 million, up 70.6%. Net profits were $1.5 million, or 4 cents per share, compared with a net loss of $4.9 million, or 14 cents per share a year earlier.

For the full year, the company achieved revenues of $64.2 million, up 30.5%, the net loss was $18.4 million, or 51 cents per share, reduced from $26.4 million, or 74 cents per share in 1995.

Scios said 1996 was marked by the rapid clinical progress of Auriculin (anaritide) and Natrecor (brain natriuretic peptide), the re-emergence of Fiblast as a potential treatment for cardiovascular and neurological disorders, and additions to its management team.