US Quarterly Results Round-Up

Somatogen has posted a net loss for the fiscal quarter ended December 31, 1994, of $5 million, and a loss per share of $0.28, compared with a loss of $5.5 million and a loss per share of $0.40 a year earlier. The company said that the decrease in net loss in the second quarter was due to sharing development costs for its first product, rHb1.1, with Eli Lilly, and an increase in interest income from marketable securities. No revenues were recorded. R&D spending was down 2%. In the six-month period, the net loss was $9.6 million, compared with $11.2 million a year earlier. The loss per share was $0.53, down from an LPS of $0.93 a year earlier. There were no revenues recorded in the 1994 first half.

MGI Pharma, a US biopharmaceutical company, has announced a net loss for the year ended December 31, 1994, of $9.7 million, down from a loss of $11.7 million in 1993. The loss per share was $0.82, compared with a loss of $1.03 in 1993. Revenues for the year advanced 80% to $6.8 million. In the fourth quarter, revenues were $1.8 million, up 131%. The net loss was $4.5 million or $0.39 per share. Revenues in 1994 were said to have been boosted by an 87% increase in product sales and a 240% rise in licensing fees over 1993 levels.

Sangstat Medical Corporation, a US transplant company, made a net loss in the fourth quarter of 1994 of $2.5 million or $0.35, with a net loss of $5.5 million and $0.79 per share for the full year. 1994 total revenues increased 15% to $3.7 million and revenues for the quarter were $223,852. The increased revenues for the year were a result of a 30% increase in product sales and $3 million earned under the company's collaborative agreement with Baxter Healthcare.