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Biotech / Medical : sciclone pharmaceuticals

SCLN 11.15

0.0%

Oct 20 5:00 PM EST

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To: Maven1 who wrote (1125)	10/31/2006 2:55:01 PM
From: Skywatcher	of 1137

SciClone's Outlook Gets Better By Althea Chang TheStreet.com Staff Reporter 10/31/2006 11:35 AM EST Click here for more stories by Althea Chang Drug developer SciClone Pharmaceuticals (SCLN - commentary - Cramer's Take) reported better-than-expected third-quarter results and boosted its revenue guidance for the year, sending shares higher Tuesday. The company reported a loss of $1.3 million, or 3 cents a share, compared with a loss of $3.1 million, or 7 cents a share, in the third quarter a year ago. Analysts expected the company to lose 5 cents. Revenue came in at $8.3 million for the quarter, up from $7.2 million a year ago. Wall Street was looking for revenue of around $8.1 million. Shares of SciClone were up 5.7% to $2.41. Sales of SciClone's lead product Zadaxin advanced 18% to $8.27 million thanks to gains in China, which accounts for more than 90% of the overall revenue for the hepatitis C treatment. "In the months ahead, we plan to expand our clinical and regulatory abilities and are intensifying our business development efforts to in-license product candidates for China," said Dr. Friedhelm Blobel, president and CEO of SciClone. Looking ahead, the company expects to exceed its previous 2006 revenue guidance of $32 million and post a profit for the year.

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