Pharmaceutical firm Cytogen reported second-quarter revenue of $3.2 million, up 11% compared with the $2.9 million reported in the second quarter of 2001. For the period (end-June 30), the Princeton, NJ-based vendor had a net loss of $3.2 million, compared with a net loss of $3.1 million in the second quarter of last year.
Revenue growth was driven primarily by a 29% increase in the sale of Cytogen's oncology products, including ProstaScint, BrachySeed I-125, and Pd-103, according to the firm. The quarterly results were in line with Cytogen's strategy of growing product revenues to help mitigate the costs of advancing its oncology pipeline products, said president and CEO Joseph Reiser.
By AuntMinnie.com staff writers
August 1, 2002
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Cytogen to bring ProstaScint to Canada, March 18, 2002
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