Transgene 2008 loss up four-fold
French immunotherapeutics specialist Transgene's 2008 loss increased nearly four-fold, as the firm's earnings returned to normal after exceptional gains last year.
The firm generated 13.9 million eurosv ($18.2 million) in revenue during the year, down 50% on the year before, when the company recieved a 28.0 million-euro payment from Swiss drug major Roche. Discounting the payment, Transgene says turnover improved. R&D costs rose 12% to 32.3 million euros, mainly due to personnel and manufacturing process development costs.
The company's net loss rocketed to 18.0 million euros, or 0.81 euros loss per share, versus a loss of 5.5 million euros, or 0.28 euros loss per share. As of December 31, the firm had 86.7 million euros in cash and cash equivalents, down 22%.
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