Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Unigene Laboratories, a manufacture and developer of peptide-based therapeutics, has reported total revenue of $2.13m for the first quarter ended 31 March 2011, compared to $2.53m for the same period in 2010.
Subscribe to our email newsletter
The company has reported a net loss of $6.65m, or $0.07 loss per diluted share, compared to net loss of $15.95m or $0.17 loss per diluted share, for the same period last year.
This was primarily due to loss on change in fair value of embedded conversion feature of $10m, debt issuance cost of $2m, and an inventory reserve of $576,000 in 2010.
The company’s operating loss was $3.63m, as compared to $2.8m for the same period prior year.
Unigene president and CEO Ashleigh Palmer said during the quarter they made tremendous progress with Phase 2 oral PTH program licensed to GSK, and the flawless execution of this study remains a priority throughout the rest of the year.