Friday, Progenics Pharmaceuticals, Inc. (PGNX) reported a narrower loss for the second quarter, meeting analysts' estimates.
Net loss for the second quarter was $2.37 million or $0.08 per share, narrower than $2.38 million or $0.09 per share last year.
On average, 10 analysts polled by First Call/Thomson Financial expected the company to report loss of $0.08 per share.
Quarterly total net revenues grew to $28.58 million from $25.46 million in the prior-year quarter. Analysts had a consensus revenue estimate of $29.52 million.
Research and development expenditure for the quarter rose to $23.9 million from $22.4 million prior year.
For the quarter, Progenics earned a $15.0 million milestone payment for U.S. Food and Drug Administration (FDA) approval of subcutaneous Relistor.
For the first-half, net loss was $17.8 million or $0.61 per share, wider than net loss of $12.8 million or $0.48 per share prior year same period. Total revenues for the period stood at $43.3 million, up from $43.1 million prior year.
Thursday, PGNX's stock last traded at $15.86 on the Nasdaq.
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