Biopharmaceutical firm Cytogen reported 2002 revenue of $12.5 million, up 15% from the $10.9 million posted in 2001. For the period (end-December 31), the Princeton, NJ-based vendor had a net loss of $15.7 million, compared with a net loss of $12.1 million last year.
Cytogen booked fourth-quarter revenue of $3.4 million, up 10% compared with the $3.1 million reported in the fourth quarter of 2001. The company had a net loss of $3.5 million, including a $1.7 million noncash charge to write off the licensing fees associated with BrachySeed I-125 and BrachySeed Pd-103. Cytogen terminated its agreements for those products with DraxImage last month following a dispute between the firms.
By AuntMinnie.com staff writers
February 26, 2003
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