YM BioSciences widens 4Q, year loss
NEW YORK (AFX) - YM Biosciences Inc., (Nachrichten) which makes oncology and acute care drugs, said Friday its fourth-quarter loss widened missing analyst estimates due to a near twofold rise in the cost of licensing and product development.
For the quarter ended June 30, the Mississauga, Ontario-based company reported a loss of 8.6 million Canadian dollars ($7.7 million), or 16 Canadian cents (14 cents) per share, compared with 6.5 million Canadian dollars, or 18 Canadian cents per share, during the same period last year.
Revenue for the fourth quarter more than tripled to 1.1 million Canadian dollars ($980,000), from 300,000 Canadian dollars last year.
Licensing and product development expenses for the fourth quarter grew to 5.9 million Canadian dollars from 4.5 million Canadian dollars for the same quarter in 2005
Analysts polled by Thomson Financial forecast a loss of 12 cents per share and revenue of $420,000.
For the fiscal year, the company posted a net loss of 25.8 million Canadian dollars ($23 million), or 59 Canadian cents (52 cents) per share, compared with a net loss of 15.9 million Canadian dollars, or 47 Canadian cents per share, last year.
Licensing and product development costs nearly doubled to 20.2 million Canadian dollars from 11 million Canadian dollars last year.
Revenue for the year rose to 2.5 million Canadian dollars from 1.5 million Canadian dollars last year. YM BioSciences said the increases were primarily due to increased interest income resulting from larger short-term deposits compared with the previous year.
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http://www.finanznachrichten.de/...ichten-2006-09/artikel-7031524.asp