Research and development expenses for the quarter were $13.6 million compared to $12.0 million in the third quarter of 2006. The increase was primarily due to increased external expenses associated with the development of Maxygen's product candidates, including expenses related to conducting clinical trials and the manufacture of product for clinical trials.
At September 30, 2007, cash, cash equivalents and marketable securities totaled $157.1 million.
Conference Call Today
Maxygen will host a conference call to discuss its third quarter results today at 11:30 a.m. ET. Participants in the U.S. can access the call by dialing 800.561.2718 and using the passcode 15245655. International participants can dial 617.614.3525 and use the same passcode. A live webcast of the conference call will be available on the Maxygen web site at http://www.maxygen.com/webcasts.
Telephone and webcast replays of the conference call will be available for approximately 30 days. To access the telephone replay, dial 888.286.8010 (U.S.) or 617.801.6888 (international) and use the passcode 76932136. To access the webcast archive, go to http://www.maxygen.com/webcasts.
Maxygen is a biopharmaceutical company focused on developing improved
versions of protein drugs. We look for opportunities where our proprietary
protein modification technologies can address significant therapeutic
needs. Our lead program, MAXY-G34, is designed to be an improved version of
G-CSF for the treatment of neutropenia. MAXY-G34 is currently in Phase II
clinical trials. Our preclinical pipeline includes a novel Factor VIIa for
the treatment of hemophilia. Maxygen's approach to d
|SOURCE Maxygen, Inc.|
Copyright©2007 PR Newswire.
All rights reserved