August 9, 2007
GTC hemorrhaging cash
By Matthew L. Brown
Framingham-based GTC Biotherapeutics Inc. said its second quarter net loss was $10.6 million on revenue of $2.8 million.
During the same quarter last year, the company reported a loss of $9.1 million on revenue of $400,000.
The company is focused on reducing the risk of blood clots known as deep vein thrombosis during high risk medical procedures.
Its main product is Atryn, which was launched in Europe during the second quarter. Atryn is being studied in the U.S.
Part of the company's loss was a $2.9 million write off occasioned by "a number of batches of Atryn" being rendered unusable during the fill process at the company's fill/finish contractor.
During the same quarter last year, the company reported a loss of $9.1 million on revenue of $400,000.
The company is focused on reducing the risk of blood clots known as deep vein thrombosis during high risk medical procedures.
Its main product is Atryn, which was launched in Europe during the second quarter. Atryn is being studied in the U.S.
Part of the company's loss was a $2.9 million write off occasioned by "a number of batches of Atryn" being rendered unusable during the fill process at the company's fill/finish contractor.
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