SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Cell Genesys, Inc. (Nasdaq:CEGE) today reported financial results for the second quarter ended June 30, 2008. The net loss for the quarter ended June 30, 2008, was $2.8 million ($0.03 per fully diluted share), compared to a net loss of $1.9 million ($0.03 per fully diluted share) for the corresponding period in 2007. The company ended the quarter with approximately $165.5 million in cash, cash equivalents and short-term investments. This includes the $50.0 million payment received from Takeda Pharmaceutical Company Limited in April 2008 pursuant to the collaboration agreement announced on March 31, 2008 for the development and commercialization of GVAX immunotherapy for prostate cancer and gross proceeds, before deducting offering fees and expenses, of $30.0 million from a registered direct offering completed in May 2008.
