Sunday, August 29, 2010

Trimeris increase from aborted sale

AIDS drug association Trimeris reported neatly higher increase in the fourth entertain due to a $12 million cost it perceived when a South Korean companys plan to buy the commercial operation collapsed.

The Durham association reported a distinction of $7.2 million in the fourth quarter, or 32 cents per share, up from $1.5 million a year ago, after the markets sealed today.

Excluding the stop cost it perceived from Arigene, a South Korean company, Trimeris" net income in the fourth entertain was $1.7 million. Arigene unsuccessful to acquire enough appropriation to finish the merger of Trimeris.

Royalty income from the sale of the AIDS drug Fuzeon totaled $1.8 million, down from $2.7 million a year earlier. Sales of Fuzeon,which is marketed by Swiss curative hulk Roche, have been harm by the sales cost -- $20,000 a year -- as well as the side goods and the key of newer AIDS medications.

Trimeris netted $8.7 million from the $12 million stop cost paid by Arigene after incompatible fees paid to attorneys and others who suggested the association on the deal.

For the full year 2009, Trimeris reported a distinction of $12.3 million, or 55 cents per share, contra $8 million a year earlier.

Earlier today, Trimeris shares sealed at $2.47, down 1 cent. Arigenes proposal suggest was for $3.60 a share.

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