Finance

Biopharmaceutical company reports Q3 2004 financial results

Published in Drug Week, December 3rd, 2004

Theravance, Inc. (THRX), a biopharmaceutical company with internally discovered product candidates in 5 programs, reported financial results for the quarter ended September 30, 2004.

The net loss for the third quarter of 2004 increased to $22.3 million from $16.8 million for the third quarter of 2003 primarily due to higher research and development and stock-based compensation expense.

The increase in research and development expenses related primarily to higher external costs for preclinical and clinical services provided by contract research and manufacturing organizations. These external expenses increased to $8.4 million in the third quarter of...

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Source: Drug Week (2004-12-03)

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