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Abgenix, Inc.

Biotech company reports loss of $0.48 per share

Published in Medical Device Business Week, March 30th, 2005

Abgenix, Inc., (ABGX) reported financial results for the fourth quarter and full year ended December 31, 2004.

For the quarter ended December 31, 2004, the company reported a net loss of $42.9 million or $0.48 per share, compared to a net loss of $53.0 million or $0.60 per share for the same period in 2003.

The net loss for the fourth quarter of 2003 included a $7.9 million impairment charge related to an investment. The company ended 2004 with $416.3 million in cash, cash equivalents and marketable securities.

Revenues for the fourth quarter of 2004 were $5.9 million, compared to $6.4 million for the same period in 2003.

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