WALTHAM, Mass., Nov. 2, 2010 /PRNewswire-FirstCall/ -- Repligen Corporation (Nasdaq: RGEN) today reported results for the second quarter of fiscal year 2011, ended September 30, 2010. Total revenue for the second quarter was $7,307,000 compared to total revenue of $5,421,000 for the second quarter of fiscal year 2010, an increase of $1,886,000 or 35%. Bioprocessing product revenue for the second quarter was $4,416,000 compared to $2,742,000 for the second quarter of fiscal 2010, an increase of $1,674,000 or 61%. Royalty and research revenue for the second quarter, which consisted primarily of royalty payments from Bristol-Myers Squibb on the U.S. sales of Orencia®, was $2,891,000 compared to $2,679,000 for the same quarter in the prior year.
Operating expenses for the second quarter were $6,780,000 compared to $6,627,000 for the second quarter of fiscal year 2010. Net income for the second quarter was $623,000 or $0.02 per diluted share, compared to a net loss for the second quarter of fiscal year 2010 of $980,000 or $0.03 per diluted share. Cash, cash equivalents and marketable securities as of September 30, 2010 were $59,691,000 compared to $59,146,000 as of March 31, 2010.
"We are pleased to have achieved strong growth in our bioprocessing business for the quarter," stated Walter C. Herlihy, President and Chief Executive Officer of Repligen Corporation. "We are focused on completing our Phase 3 study for pancreatic imaging and our Phase 2b study for bipolar depression, and we look forward to reporting the top-line results for both of these studies in the first quarter of 2011."
For the six-month period ended September 30, 2010, total revenue was $14,317,000 compared to $10,481,000 for the same period in fiscal year 2010. Operating expenses for the six-month period ended September 30, 2010 were $12,901,
|SOURCE Repligen Corporation|
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