Biowa,
How about a good old earning play to help turn the sector. PDLI beats estimates by 8c and doubles royalty revenue year over year. Royalty paying drugs are at the beginning of their growth curve and there are many more to come.
Protein Design Labs Announces First Quarter 2000 Financial Results
FREMONT, Calif., April 17 /PRNewswire/ -- The following was released today by Protein Design Labs, Inc:
Protein Design Labs, Inc. (PDL) (Nasdaq: PDLI - news) today reported revenues of $15.5 million and net income of $770,000 or $0.04 per basic and diluted share for the three months ended March 31, 2000. These results compare with revenues of $8.8 million and a net loss of $1.9 million or ($0.10) per basic and diluted share in the 1999 first quarter. Revenues under agreements with third parties increased to $12.5 million in the quarter ended March 31, 2000, compared with $6.5 million in the 1999 first quarter. Revenues in the 2000 first quarter included royalty revenues from fourth quarter 1999 sales of three products licensed under PDL's antibody humanization patents: Synagis© (palivizumab) from MedImmune, Inc., Herceptin© (trastuzumab) from Genentech, Inc. and Zenapax© (daclizumab) from Hoffmann-La Roche Inc. Other components of revenue included up-front fees paid to PDL pursuant to a patent license agreement and a patent rights agreement, a portion of up-front fees paid to PDL pursuant to humanization agreements, sponsored research and development funding, and interest income. |
