Pharmaceutical firm Cytogen posted revenues of $2.8 million in its third quarter, up slightly from the $2.7 million reported in the same period last year. For the quarter (end-September 30), the Princeton, NJ-based vendor had a net loss of $3.8 million, compared with a net loss of $16.5 million in the third quarter of 2000.
Solid sales of its BrachySeed and Quadramet products helped Cytogen offset weakness in ProstaScint sales during the quarter, according to Cytogen. To pave the way for future growth of the agent, Cytogen is seeking to expand its prostate cancer product franchise, increase marketing and sales initiatives by its in-house sales force, enter additional markets, and explore new product applications. This would include using ProstaScint scans to guide placement of brachytherapy seeds and/or external beam radiation, according to the vendor.
By AuntMinnie.com staff writersNovember 7, 2001
Related Reading
Cytogen net loss widens in Q2 despite revenue gains, August 7, 2001
Cytogen builds executive team, June 11, 2001
Cytogen turns in revenue gains, April 27, 2001
ProstaScint scans predict prostate cancer recurrence and metastases, January 31, 2001
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