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Article: Boulder, Colo., Biotechnology Firm Brings Up Losses from 1997.

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Knight Ridder/Tribune Business News
Article date:
March 10, 1999
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Knight Ridder/Tribune Business News

Mar. 10 -- NeXstar Pharmaceuticals Inc. inched closer toward profitability. Its new parent company, Gilead Sciences Inc., will reap the benefits of that accomplishment.

The company (Nasdaq: NXTR) reported 1998 earnings of $10.9 million, or 38 cents per share, compared with a loss of $43.9 million, or $1.65 per share. NeXstar attributes its turnaround to a non-recurring gain of $22.1 million, or 78 cents per share, related to the sale of 51 percent to SKW Americas Inc. of Proligo LLC, NeXstar's specialty chemical manufacturing subsidiary.

The company, however, is still operating in the red. For 1998, it had an ...

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