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Business & Finance
Cancer-focused biotech reports financial results for first quarter of 2005
June 6th, 2005
GPC Biotech, AG, (GPCB) reported financial results for the first 3 months ended March 31, 2005. As anticipated, revenues for the first 3 months of 2005 decreased 46% to EUR 1.9 million compared to EUR 3.5 million for the previous quarter. Research and development (R&D) expenses decreased 10% in the first quarter of 2005 to EUR11.2 million compared to EUR12.5 million in the fourth quarter of 2004. General and administrative expenses for the first quarter of 2005 remained stable at EUR3.9 million, the same as for the previous quarter. During the first quarter of 2005, there was also a one-time, noncash charge of EUR 0.6 million for in-process R&D...
Source: Biotech Business Week (2005-06-06)
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