US govt order bolsters Acambis's 2nd-qtr

Cambridge, UK-based Acambis says that for the second quarter of 2006 its losses hit L12.2 million ($22.9 million), up from L4.7 million in the comparable quarter last year and more than its forecast of L10.1 million. The firm said that the larger-than-expected loss was due to lower revenues, which dropped 28% to L4.6 million. In addition, the company said that it was in the process of delisting from the Nasdaq due to costs associated with the SarbanesOxley regulations (see also page 26).

Depsite the higher-than expected losses, Acambis maintained a positive outlook for the rest of the year-announcing that the US government has placed a $30.0 million order for its smallpox vaccine ACAM2000. The firm added that negotiations were ongoing regarding a long-term warm-base manufacturing contract.

The company also reported that the International Trade Commission has ruled in its favor regarding its patent dispute with Denmark's Bavarian Nordic over MVA3000, the attenuated smallpox vaccine (Marketletter May 15). The ITC judge invalidated each of BN's claims against the UK firm, and denied the Danish group's request to prevent the importation of MVA3000 into the USA.