Northfield Lab's loss worsens on no revenue
The USA's Northfield Laboratories fell deeper into loss during the first fiscal quarter ending August 31, 2008, as it did not generate any revenue.
R&D expense during the period rose 16% to $4.4 million. The firm's net loss worsened to $5.9 million, or $0.22 per share, versus $4.8 million, or $0.18 per share. The company's cash assets were drained 42% to $7.3 million by the loss.
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