Total revenues for the first quarter ended March 31, 2008 remained essentially unchanged at $2.6 million versus the comparable quarter in 2007.
Stephen Galliker, executive vice president and CFO of Dyax, said: “Following the completion of our recent deals with sanofi-aventis and Cubist Pharmaceuticals, we anticipate that our net 2008 cash consumption will not exceed our 2007 amount of $38.3 million. We expect to further reduce this cash burn, through additional partnerships and collaborations.”