Northfield: deeper loss in 2nd qtr
The USA's Northfield Laboratories has reported a deepened loss for the second quarter of its fiscal year 2008-2009, as it awaits the approval of the Biologics License Application for PolyHeme, its human hemoglobin-based red cell substitute for the treatment of life-threatening red blood cell loss when transfusions are not available.
The firm's net loss worsened to $5.6 million, or $0.21 per share, versus $5.0 million, or $0.19 per share, in the same period of last year. As of the end of the quarter, Northfield had $10.1 million in cash and marketable securities remaining.
PolyHeme has received priority review from the Food and Drug Administration with a target date of April 30. The candidate requires no cross matching and is therefore compatible with all blood types. The firm published a manuscript in the Journal of the American College of Surgeons entitled Human Polymerized Hemoglobin for the Treatment of Hemorrhagic Shock When Blood is Unavailable.
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