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Article: Durham, N.C.-Based Biotechnology Firm Posts $22.8 Million Loss.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 1, 2001
CopyrightCOPYRIGHT 2001 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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The Herald-Sun, Durham, N.C. Knight Ridder/Tribune Business News
May 1--Triangle Pharmaceuticals posted a $22.8 million loss in the first quarter as the Durham biotech continued to fund the simultaneous development of several potential antiviral therapies.
The $22.8 million translated to a loss of 55 cents per share. In the first quarter of 2000, Triangle reported a loss of $31.3 million or 83 cents per share.
While Triangle lost money in the first quarter, the company ended up with $88.4 million of cash and equivalents compared with $62.9 million on Dec. 31. The company increased its cash on hand as a result of two private placement ...