Biopharmaceutical firm Cytogen enjoyed growth in revenue for its first quarter of 2008 (end-March 31), the company reported.
The Princeton, NJ-based company posted revenues for the quarter of $5.3 million, a 9.6% increase from 2007's $4.8 million. ProstaScint sales for the quarter were $2.6 million, up from the previous year's $2.5 million.
The company reported a net loss, however, of $5.9 million, compared with $4.8 million for the same period in 2007. A $3.9 million net litigation settlement with AMAG Pharmaceuticals (formerly Advanced Magnetics) of Cambridge, MA, bolstered the company's 2007 financial results, Cytogen said.
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