MR contrast developer Advanced Magnetics reported fiscal 2006 first-quarter revenues of $664,000, down from $1 million in sales turned in during the same period a year ago.
For the quarter (end-December 31, 2005), the Cambridge, MA-based company's net loss showed a sharp increase from the first quarter of fiscal 2005, from $2.6 million last year to $4.2 million for the most recent period.
The firm attributed the lower revenues to a decrease in the recognition of deferred licensee fee revenues from a licensing and marketing agreement covering its imaging agent Combidex, as well as a decrease in product sales of Feridex IV by its marketing partners during the quarter.
By AuntMinnie.com staff writers
January 19, 2006
Related Reading
Advanced Magnetics posts Q3 sales slide, July 19, 2005
Advanced Magnetics completes stock and warrant offering, June 3, 2005
Advanced Magnetics' sales drop, losses rise, April 19, 2005
FDA requests Combidex information, March 24, 2005
U.S. panel rejects Advanced Magnetics imaging agent, March 4, 2005
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