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ThromboGenics reports €4.7 million net loss for first half of 2009

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LEUVEN, Belgium — ThromboGenics reported a net loss of €4.7 million, or €0.17 per diluted share, for the first half of 2009, compared with a net profit of €18 million, or €0.67 per diluted share, posted during the first half of 2008, the company announced in a press release.

ThromboGenics' operating loss for the first half of 2009 totaled €5.5 million, compared with an operating profit of €17.3 million reported for the corresponding period in 2008, the release said.

For the first half of 2009, ThromboGenics reported €3.6 million in revenue, the majority of which stemmed from out-licensing activities, compared with €30.3 million in revenue recorded during the same period last year. The majority of the company's 2008 revenue stemmed from an upfront payment tendered by Roche related to a strategic partnership.

As of June 30, ThromboGenics had €52.6 million in cash and cash equivalents. The company expects to increase its cash burn as it continues to invest in its phase 3 program and product launch for microplasmin in retinal disease.