SAN DIEGO, Calif.--(BW HealthWire)--Nov. 13, 2001--GenStar Therapeutics (AMEX: GNT - news) today reported a net loss of $8,537,000, or $0.37 per share, for the nine months ended September 30, 2001. This compares with a net loss of $6,657,000, or $0.33 per share, for the nine months ended September 30, 2000. For the three months ended September 30, 2001 the loss was $2,978,000, or $0.13 per share, as compared to a net loss of $2,098,000, or $0.09 per share, for the same period in 2000. The Company had grant revenues of $162,000 for the nine months ended September 30, 2001 compared with $113,000 for the nine months ended September 30, 2000. For the three months ended September 30, 2001, grant revenues equaled $90,000, compared to $40,000 for the same period of 2000. Total operating expenses for the nine months ended September 30, 2001 were $9,192,000 compared with $7,544,000 for the nine months ended September 30, 2000. Operating expenses for the nine months ended September 30, 2000 include the write-off of acquired in-process technology of $1,655,000 related to the Allegro acquisition. For the three months ended September 30, 2001, operating expenses were $3,205,000 compared to $2,483,000 for the same period of 2000. GenStar reported cash, cash equivalents, and short-term investments of $19,442,000 at September 30, 2001.
``It was a busy quarter for GenStar as we continued advancing our clinical programs, strengthened senior management and secured substantial grants from the NIH,'' stated Robert E. Sobol, M.D., Chief Executive Officer. ``We are preparing to accrue patients to expand our Phase I trial for hemophilia. We are encouraged by the results we have seen thus far.'' |
