Contrast agent developer Molecular Biosystems managed to trim its net loss in fiscal 2000, despite a turbulent year that included the collapse of a proposed merger with Palatin Technologies, and transfer of full control of its Optison ultrasound contrast agent to partner Mallinckrodt.
For the year (end-March 31), the San Diego-based firm had revenues of $8.5 million, down 11.5% from revenues of $9.6 million posted in fiscal 1999. MBI had a net loss of $7.6 million, compared with a net loss of $21.2 million last year.
In its fourth quarter, MBI had revenues of $2.5 million, up 19% from the $2.1 million reported in the same period last year. The firm had a net loss of $3.9 million, compared with a net loss of $3 million in 1999.
By AuntMinnie.com staff writersMay 25, 2000
Related Reading
Nycomed and Mallinckrodt settle patent suits, May 8, 2000.Merger between contrast agent firms MBI and Palatin collapses, March 14, 2000.
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