GTC Biotherapeutics Reports Third Quarter 2006 Financial Results

FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) reported today its financial results for the third quarter ended October 1, 2006. The total net loss for the current quarter was $10.3 million, or $0.14 per share, compared with $6.7 million, or $0.14 per share, in the third quarter of 2005. The total net loss for the first nine months of 2006 was $27.9 million, or $0.43 per share, compared to $21.8 million, or $0.46 per share, for the first nine months of 2005. The reported total net loss included the impact of deferring $2.6 million of cash receipts as deferred revenue in the third quarter of 2006 and $5 million as deferred revenue for the first nine months of 2006.