NEW YORK, Feb. 9 (GenomeWeb News) - Biotage today reported a 30-percent increase in net sales as part of its fiscal fourth-quarter earnings for 2005, and the company separately said in a statement that CEO Jeff Bork will be replaced by Torben Jörgensen, the former CEO of Affibody, effective April 27.
Net sales for the three months ended Oct. 1 increased 30 percent to SEK 138 million ($17.8 million) from SEK 106 million year over year.
R&D spending for the quarter slid to SEK 17.5 million from SEK 19.4 million in the year-ago period.
Fourth-quarter profit rose to SEK 2.3 million from a loss of SEK 10.6 million year over year.
The company had about SEK 52.8 million in cash and cash equivalents as of Dec. 31.