Immunomedics Loss Widens

Revenue slips on a restructured license pact.
By TSC Staff ,

Immunomedics'

(IMMU) - Get Report

second-quarter loss widened as revenue slipped due to the restructuring of a licensing contract.

The company lost $4.9 million, or 10 cents a share, on revenue of $1.06 million, compared with a loss of $1.78 million, or 4 cents a share, on revenue of $3.1 million a year ago. Revenue in the latest quarter included product sales of $932,232 and license and other fees of $74,639, compared with product sales of $735,813 and license fees of $2.4 million a year ago.

Cash and equivalents fell to $8.3 million at the end of the most recent quarter from $13.6 million at June 30, 2003. Marketable securities were $7.1 million at quarter's end compared with $10.2 million at June 30.

The shares added 4 cents, or 0.9%, to $4.72 on the Instinet after-hours session.

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