Radiopharmaceutical developer Navidea Biopharmaceuticals posted revenue increases and lower net losses in the third quarter of 2016, part of which it attributed to sales growth of its Lymphoseek radiopharmaceutical and a milestone payment from Cardinal Health.
For the quarter (end-September 30), the company reported revenues of $8.5 million, compared with $4 million for the same period in 2015. For the nine-month period, the company saw revenues of $18.6 million, a 108% increase compared with $9 million during the same period last year.
Navidea's net loss for the quarter was $59,000, compared with a net loss of $8.1 million for the same period in 2015. For the nine-month period, the company's net loss was $10.4 million, compared with a net loss of $25.1 million in 2015.
Navidea saw $6.7 million in Lymphoseek sales for the quarter, compared with $3 million in the same period last year; for the nine-month period, Lymphoseek sales were $14.7 million, compared with $6.8 million in 2015.
