MRI contrast developer Epix Pharmaceuticals posted results for its 2005 fiscal first quarter showing a downturn in revenue and income and an increase in operating expenses.
For the quarter (end-March 31), the Cambridge, MA-based firm reported revenues of $2.1 million in the first three months of 2005, down from the $3.6 million of revenues posted in the first quarter of fiscal 2004.
The firm's net losses showed a steep increase to $6.3 million for the quarter, compared with net losses of $3.9 million for the same period the prior year.
Total operating expenses for the quarter increase to $8.3 million, compared with $7.7 million in operating expenses for the same quarter in 2004.
By AuntMinnie.com staff writers
April 29, 2005
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