PDL BioPharma, Inc. (PDLI) said Tuesday that it expects fourth quarter revenue of about $57 million, as compared to $69 million in the fourth quarter of last year.
Analysts polled by Thomson Reuters currently expect the company to post revenue of $60.61 million for the fourth quarter.
Included in last year's fourth quarter results was the first of two installment payments of $12.5 million from Alexion. Also included in last year's fourth quarter results was a one-time $1.8 million payment from Genentech for the exercise of options to four additional antigens and extension of the option period for two antigens under its license agreement with PDL.
PDL plans to release its financial results for the fourth quarter in late February 2010.
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