Skip to main content
Premium Trial:

Request an Annual Quote

Clinical Data's Fiscal '06 Revenue Grows 22 Percent As Acquisition Costs Turns Profit Into Loss

NEW YORK (GenomeWeb News) - Clinical Data today announced a $50.9 million loss for fiscal year 2006 compared to a profit of $3.4 million in fiscal 2005 due to an increase in operational expenses from the acquisitions of Genaissance Pharmaceuticals and Icoria.
For the 12 months ended March 31, Clinical Data reported revenues of $68.8 million, a 22-percent increase from $56.4 million in fiscal 2005. The increase included Genaissance and Icoria's operating results.
The company's traditional product business reported a 2-percent increase in revenue, to $50.6 million from $49.8 million a year ago.
Clinical Data's loss for the year was primarily a result of expensing $39.7 million for in-process research and development projects at Genaissance and Icoria at the time of the acquisition, the company said. The company also reported an increase in operation costs after the acquisitions.
The company had $20.8 million in cash as of March 31.

The Scan

Tens of Millions Saved

The Associated Press writes that vaccines against COVID-19 saved an estimated 20 million lives in their first year.

Supersized Bacterium

NPR reports that researchers have found and characterized a bacterium that is visible to the naked eye.

Also Subvariants

Moderna says its bivalent SARS-CoV-2 vaccine leads to a strong immune response against Omicron subvariants, the Wall Street Journal reports.

Science Papers Present Gene-Edited Mouse Models of Liver Cancer, Hürthle Cell Carcinoma Analysis

In Science this week: a collection of mouse models of primary liver cancer, and more.