November 1, 2007
GTC tries to stop the bleeding
By Matthew L. Brown
GTC Biotherapeutics Inc. of Framingham lost $8.4 million in the third quarter despite revenue that grew to $2.6 million from $700,000 a year ago.
The net loss is less than the $10.3 million the company lost during the same period a year ago.
The company said its revenue growth in the first nine months of the year was primarily the result of its sale of the ATryn blood clot treatment to LEO Pharma for use in clinical studies, and services provided to other pharmaceutical companies.
Better defining its products will help the company form partnerships for development and commercialization of those products, said CEO Geoffrey F. Cox.
GTC makes biologic treatments that are said to prevent blood clots in patients during risky surgeries.
The net loss is less than the $10.3 million the company lost during the same period a year ago.
The company said its revenue growth in the first nine months of the year was primarily the result of its sale of the ATryn blood clot treatment to LEO Pharma for use in clinical studies, and services provided to other pharmaceutical companies.
Better defining its products will help the company form partnerships for development and commercialization of those products, said CEO Geoffrey F. Cox.
GTC makes biologic treatments that are said to prevent blood clots in patients during risky surgeries.
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