Human Genome Loss Widens

Revenue for the third quarter is better than expected.
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Human Genome Sciences

(HGSI)

reported a wider loss in the third quarter, but brought in better revenue than Wall Street expected.

The biopharmaceutical company lost $60.8 million, or 46 cents a share, in the latest quarter. The results include $6.4 million, or 5 cents a share, in stock-based compensation expenses.

For the same period a year ago, Human Genome lost $54.4 million, or 42 cents a share. In 2005, stock-based compensation costs weren't recognized.

Human Genome's revenue exceeded expectations, coming in at $6.7 million in the third quarter, compared with analysts' estimates of $5.93 million. The company had a top line of $5.9 million a year ago.

Revenue included a $2.6 million upfront payment from

Novartis

(NVS) - Get Report

for its partnership involving the hepatitis C drug Albuferon, a $1.1 million payment from

GlaxoSmithKline

(GSK) - Get Report

for the co-development of the lupus drug LymphoStat-B, and a $1 million payment from Glaxo for the initiation of clinical trials on a sleep-disorder drug.

Shares of Human Genome fell 2% to $13.55 Wednesday morning.