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news.SuperGen, a pharmaceutical company dedicated to the discovery and development of novel cancer therapeutics in epigenetic and cell signaling modulation, has reported revenues of $13.38m for the third quarter ended 30 September 2010, compared to $10.36m for the same period in 2009.
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SuperGen posted a net income of $3.89m for the third quarter 2010, or $0.06 per diluted share, compared to $833,000 or $0.01 per diluted share, for the comparable period in 2009.
For the nine months ended 30 September 2010, SuperGen posted a net income of $9.53m, or $0.16per diluted share, compared to $2.4m, or $0.04 per diluted share, for the year ago period.
Total revenues for the nine months ended 30 September 2010 were $37.7m, compared with $29.3m for the same prior year period.
SuperGen president and CEO James Manuso said that the third quarter was another profitable one for SuperGen. Royalties from Dacogen sales increased significantly, and the company ended the quarter with more than $112m in unrestricted cash, cash equivalents and current and non-current marketable securities, and no debt.
"We continue to advance the development of our drugs in the clinic, and SGI-110, a novel, second-generation DNA methylation inhibitor, is on schedule to enter a first-in-human clinical trial in myelodysplastic syndromes and AML during November," Manuso said.