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Human Genome Sciences Q1 Revenue Shrivels as R&D Costs Surge

Apr 15, 2002

NEW YORK, April 15 - Human Genome Sciences said today that poor income from collaborations caused first-quarter revenue to plummet to $600,000 from $5.3 million during the same period last year.

The company also reported a widened net loss, which came in at $38.3 million, or $.30 per share in the current quarter, from $13 million, or $.10 per share, year over year.

R&D spending jumped to $45.6 million from $32.1 million, HGS said.

 

The company has scheduled a conference call for 1:00 p.m. Eastern time today.

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