This article is more than 5 years old. Information may no longer be current.

Jerini reports net loss, 31.5% decline in revenue for first quarter

Add topic to email alerts

Receive an email when new articles are posted on

Please provide your email address to receive an email when new articles are posted on .

Subscribe

Added to email alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

Back to Healio

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Back to Healio

BERLIN — Jerini reported a first-quarter net loss of Euro 8.8 million, or Euro 0.17 per share, compared with a net loss of Euro 4.8 million, or Euro 0.09 per share, for the first quarter of 2007, the company announced in a press release.

First-quarter revenues totaled Euro 2.5 million, a 31.5% decline from Euro 3.6 million for the same period last year. The decline is primarily due to the termination of a partnership agreement with Abbott, the release said.

Cash and cash equivalents totaled Euro 28 million as of March 31, compared with Euro 38.2 million at the same time last year.

Research and development expenses increased from Euro 5.3 million during the first quarter of 2007 to Euro 6 million for the first quarter of 2008, primarily due to higher subcontracting costs for the company's U.S. subsidiary, Jerini Ophthalmic, according to the release.

Jerini Ophthalmic is currently conducting a phase 1 clinical trial of JSM 6427, an integrin antagonist for treating age-related macular degeneration. The company expects to report preliminary study results later this year.