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Article: Raleigh, N.C.-Based Biotechnology Firm Lowers Earnings Projections.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 11, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By David Ranii, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
Jul. 11--Paradigm Genetics lowered its earnings projections for the fourth ...uarter and unveiled new debt financing that will significantly cut the biotechnology company's ...uarterly loan payments.
Although investors usually punish a stock when a company lowers its guidance on earnings, that didn't happen Thursday when Paradigm said that the fourth-...uarter profit it had been forecasting may not materialize. Shares of the Research Triangle Park-based company fell just 4 cents, to $1.36.
The market's reaction to Paradigm's news on Thursday ...