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news.Geron Corporation has released financial results for the second quarter of 2005, showing that its losses narrowed compared with the same period last year.
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Geron’s increasing revenues was said to be largely down to the receipt of an upfront payment of $4 million in conjunction with the transfer of intellectual property rights related to nuclear transfer for use in animal cloning to the company’s new joint venture, stART Licensing, Inc.
For the second quarter of 2005, the company reported a net loss of $3.1 million or $0.06 per share compared to $8.9 million or $0.20 per share in the second quarter of 2004. Net loss for the first six months of 2005 was $12.8 million or $0.23 per share compared to $60.6 million or $1.41 per share for the same period in 2004.
Revenues for the second quarter of 2005 were $4.7 million compared to $366,000 for the comparable period in 2004. Revenues for the first six months of 2005 were $4.7 million compared to $614,000 for the comparable period in 2004.