Advanced Magnetics revenues surge in Q2

AuntMinnie.com staff writers
Apr 18, 2001

Contrast agent developer Advanced Magnetics reported revenues of $1.9 million in its fiscal second quarter, compared with revenues of $869,000 posted for the same period in 1999. For the quarter (end-March 31), the Cambridge, MA-based firm had a net profit of $558,000, compared with a net loss of $859,000 last year.

The profitable quarter was a milestone for the firm, according to chairman, president, and CEO Jerome Goldstein. The company expects to continue operating profitably as it proceeds with its development programs in oncology and cardiology imaging, as well as intravenous iron therapy, he said.

By AuntMinnie.com staff writers
April 19, 2001

Related Reading

Advanced Magnetics begins phase II trials for MRA agent, January 24, 2001

Advanced Magnetics trims net loss in Q1, January 19, 2001

Copyright © 2001 AuntMinnie.com

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