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TopoTarget’s loss reduced in the 2nd quarter
19-08-2010
15:44
The biotech company TopoTarget ended the second quarter 2010 with a loss before tax of DKK 15.9 million compared to a loss before tax of DKK 27.7 million for the same period 2009. Research and development costs amounted to DKK 28.5 million compared to DKK 20.7 million in the second quarter of 2009. Revenue increased to DKK 33.6 million which was above the DKK 12.6 million in the same period last year. TopoTarget’s operating result was a loss of DKK 17.5 million compared to a loss of DKK 24.9 million in the same period last year.
The company maintains its expexctations for the full year 2010 and thus continues to expect a profit before tax of between DKK 0 and 20 million. TopoTarget expects cash and cash equivalents of DKK 195 million to DKK 215 million as at December 31, 2010, which is DKK 20 million higher than the previous guidance. »The main reasons for the changed guidance is a cash gain from conversion of USD to DKK and transfer of contractual obligations and deposits to Spectrum,« TopoTarget wrote in the financial report. Direkt/BNS
The company maintains its expexctations for the full year 2010 and thus continues to expect a profit before tax of between DKK 0 and 20 million. TopoTarget expects cash and cash equivalents of DKK 195 million to DKK 215 million as at December 31, 2010, which is DKK 20 million higher than the previous guidance. »The main reasons for the changed guidance is a cash gain from conversion of USD to DKK and transfer of contractual obligations and deposits to Spectrum,« TopoTarget wrote in the financial report. Direkt/BNS
*****||*****TopoTarget’s loss reduced in the 2nd quarter*****||*****The biotech company TopoTarget ended the second quarter 2010 with a loss before tax of DKK 15.9 million compared to a loss before tax of DKK 27.7 million for the same period 2009. Research and development costs amounted to DKK 28.5 million compared to DKK 20.7 million in the second quarter of 2009. Revenue increased to DKK 33.6 million which was above the DKK 12.6 million in the same period last year. TopoTarget’s operating result was a loss of DKK 17.5 million compared to a loss of DKK 24.9 million in the same period last year.*****||*****
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