Lower drug development costs helped radiopharmaceutical developer Molecular Insight Pharmaceuticals of Cambridge, MA, reduce its loss in the first quarter of 2009 (end-March 31).
Revenue increased to $212,000, compared with $88,000 in the first quarter of 2008. All of Molecular Insight's revenue comes from federal grants.
The net loss improved to $15.3 million, compared with a net loss of $19.7 million in the same quarter a year ago.
Molecular Insight is developing Zemiva, an imaging agent designed to detect cardiac ischemia.
Related Reading
Molecular Insight sees some gains in Q4, March 18, 2009
Molecular Insight shuffles management, February 2, 2009
Molecular Insight completes phase II trial for Zemiva, December 23, 2008
Molecular Insight reports Q3 financials, November 13, 2008
Molecular Insight reports positive trial results, November 10, 2008
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