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Maxygen, Inc. (MAXY) Reports Second Quarter 2011 Financial Results


8/9/2011 9:11:10 AM

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Maxygen, Inc. (Nasdaq: MAXY), a biotechnology company, today announced financial and business results for the quarter ended June 30, 2011. Second Quarter 2011 Financial Results: Maxygen reported net income attributable to Maxygen, Inc. of $54.5 million, or $1.86 per share, for the second quarter of 2011, compared to net income attributable to Maxygen, Inc. of $1.5 million, or $0.05 per share, for the same period in 2010. Net income for the second quarter primarily reflects a gain on sale of discontinued operations of $62.2 million recognized upon the acquisition by Astellas Pharma Inc. of Maxygen’s interests in Perseid Therapeutics LLC for $76.0 million in cash in May 2011.

Read at BioSpace.com

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