third-quarter revenue rose year over year, but the company's loss widened.
The drug developer lost $12.2 million, or 40 cents a share, compared with a loss of $8.3 million, or 33 cents a share, a year ago, mostly because of increased development expenses related to its top pipeline drugs and lower revenue following the termination of its deal with UCB Farchim.
Total revenue for the quarter reached $1.6 million, four times the $400,000 it had in the year-ago period. Revenue excludes $3.3 million of collaboration funding from Symphony Dynamo in the quarter, but it does include revenue from an arrangement with
Dynavax expects full-year pro forma revenue of $12 million to $16 million thanks to existing grants, anticipated service revenue from Dynavax Europe, collaborations and investments by Symphony Dynamo. Analysts were expecting $5.55 million in sales for the year.
The company expects 2006 operating expenses of $60 million to $64 million.