Epix Medical reported third-quarter revenues of $2.8 million, down 22.2% compared with the $3.6 million reported in the third quarter of 2001. Revenues included $2 million from a collaboration agreement with Schering for the development of the MS-325 MRI contrast agent. In the third quarter of 2001, Epix received $1.5 million from sub-licensing and royalty agreements with Bracco Imaging.
In other developments, Epix has completed enrollment in the second of two trials of its MS-325 phase III clinical program, and plans to release results in the spring of 2003. In these trials, the contrast agent is being evaluated for the detection of peripheral vascular disease in the aortoiliac arteries.
Epix expects to complete enrollment in the first quarter of 2003 for remaining clinical trials involving the detection of peripheral vascular disease in the renal and pedal arteries. This would be followed in approximately six months by a new drug application (NDA) to the Food and Drug Administration, Epix said.By AuntMinnie.com staff writers
October 25, 2002
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