FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc.'s ("GTC", Nasdaq: GTCB) total net loss for the second quarter ended June 28, 2009, was $10.8 million, or $1.03 per share, compared to $2.2 million, or $0.22 per share, for the second quarter of 2008. The total net loss for the first six months of 2009 was $21.1 million, or $2.03 per share, compared to $10.4 million, or $1.12 per share, for the first six months of 2008. The first half of 2008 included significant sales of ATryn® to our former partner in Europe, LEO Pharma A/S. While revenues for the first six months of 2009 were approximately $0.9 million, during that same period there were $5.7 million of milestones received that were not recognized as revenue and were recorded as deferred revenue on the balance sheet. Subsequent to yesterday’s special shareholder vote, GTC is receiving $8.3 million of additional funding from LFB Biotechnologies upon the first closing under the June 18, 2009 agreement for the sale of new convertible preferred stock.
