Antigenics Inc. (New York) Reports Second Quarter 2007 Financial Results

NEW YORK--(BUSINESS WIRE)--Antigenics Inc. (NASDAQ: AGEN) reported results today for the quarter ended June 30, 2007. The company incurred a net loss attributable to common stockholders of $10.1 million, or $0.22 per share, basic and diluted, for the second quarter of 2007, compared with a net loss attributable to common stockholders in the second quarter of 2006 of $14.3 million, or $0.31 per share, basic and diluted. The decreased loss reflects, among other things, increased revenues and the company’s efforts to control costs in order to maintain a low rate of cash burn. Antigenics incurred research and development costs of $6.1 million for the quarter ended June 30, 2007, compared with $7.9 million for the quarter ended June 30, 2006. General and administrative expenses decreased to $4.4 million in the quarter ended June 30, 2007, from $5.4 million in the comparable period last year. Cash, cash equivalents and short-term investments amounted to $25.4 million as of June 30, 2007.

Back to news