SciClone Pharmaceuticals Q4 net loss narrows to $3.14m

SciClone Pharmaceuticals, a biopharmaceutical company, has reported a net loss of $3.14m, or $0.07 per share, for the fourth quarter of 2008, compared with a net loss of $3.61m, or $0.08 per share, for the fourth quarter of 2007.

The company has recorded total revenues of $15.32m for the fourth quarter of 2008, an increase of 53%, compared to $10.02 m for the same period of 2007.

For the year ended December 31, 2008, total revenues were $54.11m, compared to $37.06m for the year ended December 31, 2007. For 2008, net loss was $8.35m, or $0.18 per share, compared with a net loss of $9.95m, or $0.22 per share, for 2007.

Friedhelm Blobel, SciClone’s president and CEO, said: We believe our strategy of expanding existing sales and building brand identity in key emerging markets, introducing revenue-generating products such as DC Bead in China while evaluating additional pipeline expansion possibilities and practicing fiscal discipline, will enable us to realize our goal of continuing revenue growth and achieving sustainable profitability.

We believe that 2008 was a transformative year in our company’s history and we look forward to 2009 as another year of strong value creation.