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Avanir Pharmaceuticals
Clinical trial expenses contribute to $6M net loss at CNS pharmaceutical firm
September 10th, 2003
Avanir Pharmaceuticals (AVN) reported a net loss for the third quarter of fiscal 2003 of $6.0 million, or $0.10 per share, compared with a net loss of $4.9 million, or $0.08 per share for the same period a year ago. Contributing to the loss was the company's expenditures on four clinical trials, compared to one clinical trial in the same period a year ago and lower revenues. Research and development (R&D) expenses for the third quarter of fiscal 2003 amounted to $4.5 million, supporting three on-going clinical trials and one completed during the quarter, compared to $4.1 million for the same period a year ago. The clinical trial expenses were divided...
Source: Biotech Week (2003-09-10)
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