Biopharmaceutical company Cytogen of Princeton, NJ, reported total revenue of $3.1 million in the third quarter of 2002 (end-September 30), compared to revenue of $2.8 million in the same quarter of 2001. The growth was driven by the sale of oncology products such as ProstaScint, BrachySeed I-125, and BrachySeed Pd-123.
Total revenue for the nine-month period was $9.6 million, a 10% increase over the $8.7 million reported for the same period a year ago.
Cytogen’s net loss was also up, reaching $4 million, compared to a loss of $3.8 million for the same quarter a year earlier. Net loss for the nine-month period was $12.2 million, compared to a net loss of $9.5 million for the same period a year ago.
Cytogen president Joseph Reiser said the company is in a solid cash position, with increasing product sales, a maturing pipeline, and new product launches.
By AuntMinnie.com staff writersNovember 6, 2002
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