GTC Narrows 2Q Loss by $8M
Framingham-based GTC Biotherapeutics Inc. reported a second quarter net loss of $2.2 million, much smaller than the $10.6 million loss the company reported for the same period last year.
The company said its revenue for the quarter was $9.1 million, a $6.3 million increase from the $2.8 million reported for the second quarter of 2007. GTC finished the quarter with $12.2 million in cash, a $3.6 million decrease compared to last year.
GTC develops pharmaceutical proteins in the milk of genetically modified goats. The proteins, which GTC will market as ATryn, can be used to prevent blood clots in surgery patients, according to the company. The company said it has completed its application for approval of ATryn by the U.S. Food and Drug Administration and is forming partnerships with companies to market the drug.
GTC recently began listing on the Nasdaq Capital Market after being unable to meet the stock price and market value requirements of the Nasdaq Global Market.
WBJ Web Partners
Most Recent
Most Recent
0 Comments