Human Genome Sciences ( HGSI) posted a narrower-than-expected loss after seeing a jump in revenue and lower costs in the third quarter.

Revenue was $5.9 million in the quarter, compared with $700,000 last year, an increase mostly thanks to milestone payments from GlaxoSmithKline ( GSK) for Human Genome's diabetes drug Albugon.

Overall, the Rockville, Md., biopharma company lost $54.4 million, or 42 cents a share, compared with a loss of $62.2 million, or 48 cents a share, a year earlier.

In the year-ago third quarter, the company took a charge of 5 cents a share for consolidating manufacturing facilities and for costs associated with the retirement of its former chairman and chief executive.

Shares of Human Genome were gaining 11 cents to $8.33 Tuesday.

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