Cost-cutting initiatives helped radiopharmaceutical developer Molecular Insight Pharmaceuticals of Cambridge, MA, reduce its net loss in the second quarter of 2009 (end-June 30).
Total revenue for the period was $100,000, the same as the second quarter of 2008. The revenue came from R&D grants and other grant-related activities. The company posted a net loss of $16.6 million, compared with a net loss of $21 million in the second quarter of 2008.
For the six-month period, total revenue was approximately $300,000, compared with approximately $200,000 in the first six months of 2008. The six-month net loss edged down to $31.9 million, compared with a net loss of $40.8 million in the same period a year ago.
Related Reading
Molecular Insight lowers loss in Q1, May 12, 2009
Molecular Insight sees some gains in Q4, March 18, 2009
Molecular Insight shuffles management, February 2, 2009
Molecular Insight completes phase II trial for Zemiva, December 23, 2008
Molecular Insight reports Q3 financials, November 13, 2008
Copyright © 2009 AuntMinnie.com
