Protein Design Labs
reported a narrower-than-expected third-quarter loss, but saw revenue for the period fall from a year ago.
The Fremont, Calif., company, which develops humanized antibodies to prevent or treat various diseases, posted a loss of $5.1 million, or 13 cents a share, compared with net income of $181,000 in the same period last year. Seven analysts polled by
First Call/Thomson Financial
expected a third-quarter loss of 16 cents a share.
Revenue for the quarter fell to $9.6 million from $10.6 million last year.