Biopharmaceutical firm Cytogen reported first-quarter total product revenues of $4 million, up 10% compared with the $3.6 million posted last year. For the quarter (end-March 31), the Princeton, NJ-based vendor had a net loss of $6.6 million, compared with a net loss of $4.3 million a year ago.
Cytogen attributed the net loss primarily to continued expansion in its sales force, an initiative that was completed in January. The company said it remains on track to produce record revenues in 2005.
By AuntMinnie.com staff writers
May 5, 2005
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