SAN DIEGO--(BW HealthWire)--Aug. 14, 2001--GenStar Therapeutics (AMEX: GNT - news) today reported a net loss of $5,558,000, or $0.24 per share, for the six months ended June 30, 2001. This compares with a net loss of $4,559,000, or $0.23 per share, for the six months ended June 30, 2000. For the three months ended June 30, 2001 the loss was $2,990,000, or $0.13 per share, as compared to a net loss of $3,413,000, or $0.16 per share, for the same period in 2000. The company had grant revenues of $72,000 for the six months ended June 30, 2001 compared with $73,000 for the six months ended June 30, 2000. For the three months ended June 30, 2001, grant revenues equaled $40,000, compared to $40,000 for the same period of 2000. Total operating expenses for the six months ended June 30, 2001 were $5,987,000 compared with $5,061,000 for the six months ended June 30, 2000. For the three months ended June 30, 2001, operating expenses were $3,212,000 compared to $3,741,000 for the same period of 2000. GenStar reported cash, cash equivalents, and short-term investments of $19,864,000 at June 30, 2001.
``Our second quarter financial results are consistent with our expectations. We continue to advance our efforts to develop our core technologies and product opportunities while effectively managing our financial resources,'' stated Robert E. Sobol, M.D., Chief Executive Officer. |
