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Enchira Biotechnology Reports Third Quarter Results

Published in Cancer Weekly, December 18th, 2001

Enchira Biotechnology Corp. (ENBC) has announced financial results for the quarter ended September 30, 2001. Revenues for the third quarter were $125,000 compared with $135,157 for the same period in 2000.

Enchira recorded a net loss for the quarter ended September 30, 2001 of $2,466,133, or $0.31 per share compared with $1,577,064 for the same quarter in 2000, or $0.28 per share. This increased net loss was mainly due to amounts owed as a result of the arbitration with Maxygen. On November 3, 2001, the arbitrator issued a final ruling requiring Enchira to pay a portion of Maxygen's attorneys' fees in the amount of $556,826 and the arbitration costs in the amount of...

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