Molecular Insight Pharmaceuticals of Cambridge, MA, posted higher revenues in the company's first quarter.
For the period (end-March 31), revenues climbed to $248,000, compared with $82,000 in the first quarter of 2006. Revenues consisted primarily of grants from the National Institutes of Health.
The biopharmaceutical company also posted a net loss of $13.4 million, compared with a net loss of $6.8 million in the same quarter a year ago.
Molecular Insight Pharmaceuticals is developing radiotherapeutics and molecular imaging pharmaceuticals with initial applications in the areas of oncology and cardiology.
By AuntMinnie.com staff writers
May 15, 2007
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