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Acquisitions Help Clinical Data Post 39-Percent Revenue Growth in Fiscal Q3

NEW YORK, Feb. 14 (GenomeWeb News) - Clinical Data posted a 39-percent surge in revenues durinig its fiscal third quarter due to an increased asset base from the acquisitions of GenaissanceIcoria, and Electa Lab, the company said today.

 

Revenues for the three months ended Dec. 31, 2005, increased to $19.9 million from $14.3 million in the year-ago period.

 

The company reported a net loss for the third quarter of $42.8 million, compared with a net income of $1 million in Q3 2004. Specifically, it recognized $40.1 million in aggregate purchased in-process R&D expenses related to the development of biomarkers for vilazodone and clozapine, two of the leading products in development acquired with Genaissance.

 

Additional data, including cash and cash equivalents and total R&D spending, will be released later today, Clinical Data said.

The Scan

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