Cytogen Corp. - Princeton, N.J. 3rd Quar Sept. 30:
2000 1999
Revenue $2,519,000 $2,346,000
Net income a (16,663,000) (1,232,000)
Avg shrs 73,632,000 68,757,000
Shr earns
Net income a (.23) (.02)
Figures in parentheses are losses.
a. Includes a nonrecurring charge of $13.1 million, or 18 cents a share, related to the acquisition of marketing rights for two products. Excluding this, the company lost $3.4 million, or 5 cents a share.
Cytogen Corp.'s (CYTO) third quarter product sales rose to $1.98 million from $1.83 million a year earlier. Royalty revenue increased to $523,000 from $245,000 last year, while license and contract revenue fell to $17,000 from $267,000 in the year-ago quarter.
Cytogen signed a binding letter of intent to market and distribute Draxis Health Inc.'s (DRAX) prostate cancer therapy BrachySeed in the U.S.
Cytogen and Draxis are in talks for a definitive marketing and distribution agreement. The company expects to launch BrachySeed by the end of the year.
Cytogen, a biopharmaceutical company, said recent studies suggest that radioimmuno-guided brachytherapy can be successfully combined with the company's existing ProstaScint therapy. |
