Well, looks like that burn rate has increased
and quarter to quarter loss has dramatically increased.
I can only see IMCL, at some pt. soon, retreating from
these levels. They are way overbought considering
how far out FDA approval is.
ImClone Systems Reports Year End 1998 Financial
Results
NEW YORK--(BW HealthWire)--March 31, 1999--ImClone Systems Incorporated
(Nasdaq:IMCL - news) today announced its results for the fourth quarter and year ended
December 31, 1998.
For the year ended December 31, 1998, the Company reported revenues of $4,193,000 and a net loss to common
stockholders of $25,050,000, or $1.03 per share. These results compare with revenues of $5,348,000 and a net loss to
common stockholders of $15,654,000, or $0.67 per share, for the comparable period last year. Operating expenses for the
year ended December 31, 1998 were $28,194,000 as compared with $21,811,000 for the year ended December 31, 1997.
For the quarter ended December 31, 1998, the Company reported revenues of $759,000 and a net loss to common
stockholders of $8,356,000 or $0.34 per share. These results compare with revenues of $1,335,000 and a net loss to
common stockholders of $4,929,000 or $0.20 per share, for the comparable period last year. Operating expenses for the
quarter ended December 31, 1998 were $8,751,000 as compared with $6,445,000 for the comparable quarter last year.
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