TopoTarget's 1st-qtr loss deepens 20%

Danish drugmaker TopoTarget AS has recorded a net loss of 42.6 million Danish kroner ($7.74 million) for the first quarter of 2007, a 19.7% increase on the deficit it saw in the comparable period in 2006. This corresponds to a loss per share of 0.93 kroner.

The firm said that the increased loss for the quarter had been partly driven by higher operating expenses, up 20.1% to 55.0 million euros, arising from establishment of sales teams to promote Savene (dexrazoxane), its product for the treatment of anthracycline extravasation, in Europe and the USA (Marketletter March 26).

Despite the mounting losses, TopoTarget remained upbeat, citing the 49.1% increase in its revenues for the period, to 10.4 million kroner, as key to its future performance.