FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) reported that total net loss for the first quarter of 2009 was $10.4 million, or $0.10 per share, compared with $8.2 million, or $0.10 per share, for the first quarter of 2008. Revenues were approximately $0.2 million for the first quarter of 2009 compared to $3.5 million for the first quarter of 2008. Revenues were reduced from the first quarter of 2008 primarily due to the completion of activities in supporting service contracts for external programs. During the first quarter of 2009, we received approximately $4.7 million of milestone payments, including $4 million from Lundbeck Inc. on the ATryn® (Antithrombin [Recombinant]) program, which were not recognized as revenue as they were deferred in accordance with our revenue recognition policy. Delivery of commercial product to Lundbeck Inc., GTC’s commercial and development partner for ATryn in the United States, began late in the first quarter of 2009.
