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.