Shares of Cytogen rise on 3Q earnings |
|
|
|
Published
:
Mon, 05 Nov 2007 15:27
|
BOSTON (Thomson Financial) - Shares of Cytogen Corp. rose Monday after the company posted third-quarter results that beat expectations.The Princeton, N.J. -based pharmaceutical company reported a narrowed net loss of $5.1 million, or 15 cents a share, from a loss of $5.7 million, or 26 cents a share, a year ago.The mean estimate of analysts polled by Thomson Financial was for a loss of 26 cents a share.The company said its third-quarter loss included non-cash unrealized gain of $5.5 million and a non-cash impairment charge of $1.8 million associated with assets related to its tamoxifen citrate product, Soltamo.Revenue rose to $5.1 million from $4.2 million a year ago, compared with analyst forecasts of $4.8 million.Shares of Cytogen were up 8.2% at 66 cents.Michael Lauengerml/pcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
|
|
Print this Story
IBM beats forecast with 3Q earnings 