Finance

Cell Genesys Reports Net Loss In Third Quarter

Published in Cancer Weekly, November 27th, 2001

Cell Genesys, Inc., (CEGE) reported a net loss of $22.4 million or $0.64 per share for the quarter ended September 30, 2001. This compares with a net loss of $0.3 million or $0.01 per share in the same quarter of 2000. The increased net loss is due primarily to a one-time charge of $18 million or $0.52 per share relating to the acquisition of Calydon, Inc., an acquisition that added a third product platform to Cell Genesys' pipeline of cancer product candidates, the company said.

Cell Genesys ended the quarter with approximately $220 million in cash, cash equivalents, and short-term investments. Revenues for the quarter were $4.6 million, compared with $5.1 million...

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Source: Cancer Weekly (2001-11-27)

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