SciClone Pharmaceuticals Reports 1999 Results 152% Gain in 1999 Revenue
SAN MATEO, Calif., Feb. 3 /PRNewswire/ -- SciClone Pharmaceuticals (Nasdaq: SCLN - news) today announced results for the fourth quarter and year ended December 31, 1999.
For the year, the Company reported total revenue of $9,397,000, a 152% increase over the $3,725,000 reported for 1998. Sales of ZADAXIN®, the Company's host immune system enhancer (h-ISE), for the fourth quarter of 1999 were $2,999,000, a 137% increase over fourth quarter 1998 ZADAXIN sales of $1,264,000. Total ZADAXIN sales for 1999 were
$9,090,000, a 151% increase over 1998 sales of $3,625,000.
For the year, the net loss of $5,466,000 ($0.26 per share) decreased 74% when compared to a loss of $21,071,000 ($1.29 per share) in 1998, excluding a deemed dividend in 1998 of $3,143,000 ($0.19 per share). The Company's net loss for the fourth quarter was $535,000 ($0.02 per share), a 94% reduction compared to a loss of $9,492,000 ($0.52 per share) for the fourth quarter of 1998.
SciClone said the improvement in operating results is based on the 1999 restructuring of the Company to focus on sustaining international sales growth, increased drug development activities through partnerships and relatively stable operating expenses.
The Company expects these trends to continue in 2000 and maintains the goal of operating profitably by the end of the year.
Cash and investments totaled $12,687,000 at February 2, 2000.
EVEN BETTER THAN 125%...over 150%>>>!!!!!!
Getting stronger every day...only lost 2 cents...
chris |
