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Business & Finance
Depomed reports net loss of $12.6 million in third quarter
December 11th, 2006
Depomed, Inc. (DEPO) announced its financial results for the quarter ended September 30, 2006. For the quarter, a net loss of $12.6 million or $0.31 per share was reported compared to a net loss of $7.0 million or $0.18 per share for the comparable period in 2005. Cash and investment balances at September 30, 2006 were $35.6 million. Revenues were $959,000 in the third quarter of 2006 compared to $795,000 in the same period of 2005. Third quarter 2006 revenues were primarily due to amortization of license fees received in 2005 from corporate partners for ProQuin XR and Glumetza. Operating expenses for the quarter ended September 30, 2006 were $13.8...
Source: Obesity & Diabetes Week (2006-12-11)
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