Biopharmaceutical firm Cytogen reported that new marketing initiatives and a sales force expansion cut into its bottom line in the third quarter (end-September 30).
Revenues at the Princeton, NJ-based company climbed to $3.6 million, compared with $3.3 million in the third quarter of 2004. Cytogen also reported a net loss of $7.8 million, compared with a net loss of $5.6 million in the same quarter a year ago.
For the nine-month period, revenues were $11.7 million, up from $10.8 million in the same period of 2004. The nine-month net loss reached $22.2 million, compared with $14.3 million in the same period last year.
By AuntMinnie.com staff writers
November 4, 2005
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