Pharmaceutical firm Immunomedics reported fiscal fourth-quarter revenues of $4.3 million, nearly triple the $1.6 million booked in the same period last year. For the quarter (end-June 30), the Morris Plains, NJ-based vendor had a net loss of $538,000, compared with a net loss of $2.7 million in the fourth quarter of 2000.
Immunomedics had revenues of $11.2 million in fiscal 2001, nearly double the $6 million posted in fiscal 2000. For the year, the firm had a net loss of $4.8 million, compared with a net loss of $10.1 million in fiscal 2000. The vendor attributed the decreased loss to higher licensing revenues from a recent agreement with Amgen, as well as interest income.
By AuntMinnie.com staff writersAugust 9, 2001
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