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AGTC reports $11.1 million in revenue in third quarter

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AGTC reported $11.1 million in total revenue in the third quarter compared with $705,000 in the same quarter of 2014, according to a press release.

The increase was attributed to revenue from nonrefundable upfront fees that the company received from its collaboration with Biogen and a milestone revenue of $5 million.

Net loss was reported at $9.1 million in the third quarter compared with $5.4 million in the same quarter of 2014.

Research and development expenses were reported at $17 million in the third quarter, compared with $4.4 million in the third quarter a year ago, and were driven by total incremental costs of $12 million associated with the collaboration with Biogen.