Millennium Sees Loss Below $100 Million

Millennium Pharmaceuticals ( MLNM) said Monday that it hopes to narrow its fiscal 2005 loss to below $100 million, or slightly better than the consensus view on Wall Street.

The company said the prediction was a non-GAAP figure; analysts polled by Thomson First Call were looking for a non-GAAP loss of $107.3 million. The company said the GAAP loss in 2005 would be below $155 million.

Millennium also said it was "on track" to achieve a non-GAAP loss within the previous guidance range of $175 million to $200 million and a GAAP net loss within the guidance range of $255 million to $285 million. The Thomson First Call consensus for the year-end non-GAAP loss is $175.7 million.

The company will issue its financial results for fourth quarter and for the 2004 fiscal year on Jan. 27.

Millennium has two products on the market -- Integrilin, which helps prevent occlusion of the arteries by supplying the heart muscle with oxygen, and Velcade, a treatment for multiple myeloma, a cancer of the bone marrow that affects infection-fighting white blood cells.

Millennium's partner form Integrilin is Schering-Plough. ( SGP). Its partner for Velcade is Johnson & Johnson ( JNJ).

Millennium's stock rose 13 cents, or 1.2%, to $11.22.

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