Basilea Pharmaceutica AG (BPMUF.PK) reported first-half net loss of CHF 34.6 million or CHF 3.61 per share versus net loss of CHF 20.2 million or CHF 2.10 per share last year.
Product sales grew to CHF 17.7 million from CHF 15 million in the prior-year period. Contract revenue decreased to CHF 13.4 million from CHF 19.7 million a year earlier. This decrease was mainly due to accelerated recognition of CHF 11.1 million associated with regaining ceftobiprole rights in 2011, partly offset by accelerated recognition of upfront and milestone payments from Toctino distribution partners in 2012 as a result of the Toctino transaction.
Research & development expenses climbed to CHF 31.6 million from CHF 26.8 million in the same period a year ago.
Looking ahead, the company estimates total operating expenses for 2012 to remain at around CHF 10 million per month primarily as a result of continued development program investment.
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by RTT Staff Writer
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