Gen-Probe Reports Strong Financial Results for Third Quarter 2008, Raises Full-Year EP... (ent (R&D) expenses in the third quarter ...)

Gen-Probe Reports Strong Financial Results for Third Quarter 2008, Raises Full-Year EPS Guidance

Date:10/30/2008

ent (R&D) expenses in the third quarter of 2008 were $24.5 million, compared to $27.6 million in the prior year period, a decrease of 11% that resulted primarily from the purchase of human papillomavirus (HPV) oligonucleotides from Roche in the prior year period. For the first nine months of 2008, R&D expenses were $76.9 million, compared to $72.8 million in the prior year period, an increase of 6% that resulted primarily from costs associated with key development programs such as the post-marketing studies of the PROCLEIX ULTRIO assay in the United States, the investigational APTIMA human papillomavirus (HPV) assay, and Gen-Probe's fully automated instrument system for low- and mid-volume labs, known as PANTHER.

Marketing and sales expenses in the third quarter of 2008 were $10.7 million, compared to $9.7 million in the prior year period, an increase of 10% that resulted primarily from European market development efforts related to the Company's APTIMA Combo 2, APTIMA HPV and PROGENSATM PCA3 assays. For the first nine months of 2008, marketing and sales expenses were $34.1 million, compared to $28.6 million in the prior year period, an increase of 19%.

General and administrative (G&A) expenses in the third quarter of 2008 were $12.9 million, compared to $11.4 million in the prior year period, an increase of 13% that resulted primarily from increased compensation and legal costs. For the first nine months of 2008, G&A expenses were $38.5 million, compared to $34.7 million in the prior year period, an increase of 11%.

Total other income in the third quarter of 2008 was $2.2 million, compared to $3.3 million in the prior year period, a decrease of 33% that resulted primarily from a $1.6 million impairment charge associated with the Company's equity investment in Qualigen, Inc. The Company reviews its investments regularly and records impairment charges when an investment has experienced a decline that is expected to be other-than temporary. For th
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Related medicine news :

1. Gen-Probe Announces Webcasts of Three Upcoming Investor Events
2. Gen-Probe to Webcast Two Upcoming Investor Presentations
3. Gen-Probe Announces Webcast of First Quarter 2008 Earnings Conference Call
4. Gen-Probe to Webcast Presentation at Leerink Swann Molecular Diagnostics Conference
5. Gen-Probe to Webcast Presentation at Deutsche Bank Small- and Mid-Cap Growth Conference
6. Gen-Probe to Webcast Presentation at 26th Annual JPMorgan Healthcare Conference
7. Gen-Probe to Webcast Presentation at NASDAQ 20th Investor Program
8. Jorgine Ellerbrock Joins Gen-Probe as Senior Vice President, Operations
9. 3M, Gen-Probe to Discontinue Molecular Food Testing Collaboration
10. Poniard Pharmaceuticals Reports Third Quarter 2008 Financial Results and Corporate Update
11. Nuvelo Reports Third Quarter 2008 Financial Results

Post Your Comments:

Gen-Probe Reports Strong Financial Results for Third Quarter 2008, Raises Full-Year EP...(ent (R&D) expenses in the third quarter ...),Health