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Article: Targeted Genetics Reports Second Quarter 1997 Financials
- Article from:
- PR Newswire
- Article date:
- July 31, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. 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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SEATTLE, July 31 /PRNewswire/ -- Targeted Genetics Corporation (Nasdaq: TGEN) today reported a net loss of $3.8 million, or $0.19 per share, for the quarter ended June 30, 1997. For the comparable period in 1996, the company's net loss was $16.4 million, or $1.26 per share, which included a one-time, non-cash charge of $13.5 million related to the June 1996 acquisition of RGene Therapeutics, Inc. Excluding this charge, the comparable net loss would have been $2.9 million, or $0.22 per share.
The increased net loss, after adjustment for the prior year charge, primarily resulted from a planned increase in research and development spending. A majority of the ...