Finance

Biomira Solidifies Cash Position As Phase III Trials Begin

Published in Cancer Weekly, November 27th, 2001

Biomira, Inc., (BIOM) reported financial for the nine months ended September 30, 2001, reflect a consolidated net loss from operations of $30.0 million or $0.59 per share compared with $33.4 million or $0.70 per share, for the same period in 2000.

The decrease in net loss is attributed to THERATOPE vaccine and vaccine licensing revenues and product development reimbursements received from Merck KGaA, Biomira's collaborator for these vaccines. Research and development expenditures for the nine months ended September 30, 2001 totaled $30.6 million compared with $31.2 million for the same period in 2000.

During the third quarter, Biomira raised...

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Source: Cancer Weekly (2001-11-27)

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