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GPC Biotech reports financial results for FY06

Wed Mar 14, 2007 11:45pm EDT
Co reports financial results for Q4 and FY06. Revenues increased 143% to euro 22.7 mln for the fiscal year ended December 31, 2006, compared to euro 9.3 mln for 2005. The increase in revenues is due to development funding received under the co-development and license agreement for satraplatin for Europe and certain other territories with Pharmion that was signed in December 2005. Net loss for FY06 increased 3% to euro (64.0) mln compared to euro (62.2) mln for 2005. Basic and diluted loss per share was euro (1.95) for 2006 compared to euro (2.08) for 2005. Comparison to previous year: Q406 compared to Q405. Revenues for the three months ended December 31, 2006 increased 79% to euro 5.1 mln compared to euro 2.8 mln for the same period in 2005. Net loss for Q406 was stable at euro (17.2) mln compared to euro (17.2) mln for Q405. Basic and diluted loss per share was euro (0.50) for Q406 compared to euro (0.57) for the same period in 2005.



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