Angiotech Pharmaceuticals, Inc. Narrows Losses Following Bankruptcy, Restructuring
Published: Nov 19, 2012
Angiotech Pharmaceuticals cuts losses in half during its 3rd quarter after the company undertook restructuring measures after filing for bankruptcy last year. Angiotech Pharmaceuticals unveiled its 3rd quarter results, demonstrating narrowed losses in the year following the company's bankruptcy and restructuring efforts. Angiotech posted losses of $8.6 million during the 3 months ended Sept. 30, 2012, a 54% reduction from losses of $18.7 million during the same period last year. The company also halved its per-share losses, which came to 67¢ for Q3 2012, compared with $1.47 for Q3 2011.