Xenova's Pipeline Strengthens In 3rd Qtr
UK-based biopharmaceutical group Xenova has posted a net loss of $2.9million ($4.9 million) for the third quarter of 1997, up from L1.9 million in 1996, due partly to increased clinical trial activity and development costs for subsidiary MetaXen. The company said that the losses were within budget.
Xenova says that revenues fell 20.4% to L308,000 for the quarter due to an anticipated decline in research payments from earlier collaborations and the phasing of payments from more recent alliances.
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