Vion 4Q Loss 8c/Shr
NEW HAVEN, Conn. -- Vion Pharmaceuticals Inc.'s (VION) fourth-quarter per-share losses narrowed from a year ago, despite higher operating costs.
In a press release Wednesday, the developer of cancer treatments said its quarterly losses widened to $3.3 million from $2.5 million a year ago, but narrowed on a per-share basis to 8 cents from 9 cents.
Weighted-average common shares outstanding for quarter ended Dec. 31, 2003 and December 31, 2002 were 39.3 million and 28.9 million, respectively.
Total operating expenses were $12.3 million and $13.3
Total operating costs widened to $3.4 million from $2.6 million a year ago, as clinical trials expenses increased. General and administrative costs also rose.
Vion Pharmaceuticals' fourth-quarter revenue rose to $110,000 from $80,000 a year ago. The increase came from Vion's research support service operations.
For 2003, the company's losses narrowed to 36 cents a share from 43 cents a share last year, as total revenue rose to $375,000 from $238,000.
The drug developer had an increased number of weighted-average shares for the year compared with a year ago.
Vion Pharmaceuticals Inc. - New Haven, Conn.
4th Quar Dec. 31:
2003 2002
Revenue $110,000 $80,000
Net income (3,302,000) (2,489,000)
Avg shrs 39,274,000 28,894,000
Shr earns
Net income (.08) (.09)
Year:
Revenue 375,000 238,000
Net income (11,838,000) (12,310,000)
Avg shrs (diluted) 32,808,000 28,888,000
Shr earns
Net income (.36) (.43)
Company Web site: vionpharm.com
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