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Finance

Biopharmaceutical company announces financial results

For the second quarter ended June 26, 2004, the company reported a net loss of ($17,266,000), or ($0.23) per basic and diluted share, on total revenues of $710,000. This compares to premerger results of a net loss of ($13,932,000), or ($0.58) per basic and diluted share, on total revenues of $1,710,000 for the second quarter of 2003.

Included in the results for the second quarter of 2004 are approximately $3.0 million in noncash charges related to the merger with GeneSoft Pharmaceuticals completed in February 2004. Similarly, the results for...

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