SOUTH SAN FRANCISCO, Calif., Nov. 12 /PRNewswire-FirstCall/ -- VaxGen Inc. announced today that it has filed its Form 10-Q for the period ended September 30, 2007 with the Securities and Exchange Commission. The filing was made in a timely manner on November 8, 2007.
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As of September 30, 2007, VaxGen reported $77.3 million in cash, cash equivalents and short-term securities.
For the three months ended September 30, 2007, VaxGen reported a net loss of $9.9 million, or 30 cents per share, on revenues of $416,000. That compares with a net loss of $15.1 million, or 46 cents per share, on revenues of $2.4 million in the corresponding period of 2006.
For the nine-month period ended September 30, 2007, VaxGen reported a net loss of $27.7 million, or 84 cents per share, on revenues of $4.8 million. That compares to net income of $11.8 million, or 36 cents per share, on revenues of $13.3 million for the corresponding period in 2006, primarily as a result of a gain on the sale of investment in a former affiliate, Celltrion.
VaxGen will hold a conference call at 8:00 a.m. EST on Tuesday, November 13, 2007 to discuss its latest financial results and its pursuit of strategic alternatives. The call may be accessed through the following means.
About VaxGen
VaxGen is a biopharmaceutical company based in South San Francisco, California. The company owns a state-of-the-art biopharmaceutical manufacturing facility with a 1,000-liter bioreactor that can be used to make cell culture or microbial biologic products. For more information, please visit the company’s web site at http://www.vaxgen.com.
CONTACT: Lance Ignon of Sitrick And Co., +1-415-793-8851, for VaxGen
Web site: http://www.vaxgen.com/
