"We are in a strong position to execute our product development plan despite the recent turmoil in the financial markets," stated Walter C. Herlihy, President and Chief Executive Officer of Repligen Corporation. "As of September 30th, we had $65 million or $2.10 per share in cash and investments, no debt and we project that on an operating basis we will be cash flow positive in fiscal year 2009 with $28 to $30 million in revenue. We believe our stock is undervalued, and we intend to continue to repurchase our shares under the previously announced 1.25 million share buyback."
For the six-month period ended September 30, 2008, total revenue was $18,750,000. Royalty and other revenue for the six-month period ended September 30, 2008 was $10,073,000. Operating expenses for the six-month period ended September 30, 2008 were $11,117,000, compared to $10,746,000, exclusive of the net gain of $40,170,000 from litigation settlement, for the same period in fiscal year 2007. Net income for the six-month period ended September 30, 2008 was $8,421,000 or $0.27 per diluted share compared to a net gain of $40,546,000 or $1.30 per diluted share in the same period in fiscal year 2008.
RG1068 for Imaging of the Pancreas
We are currently enrolling patients in a Phase 3 clinical trial of
RG1068, synthetic human secretin, designed to assess the ability of RG1068
enhanced magnetic resonance imaging (MRI) to improve the detection of
pancreatic duct abnormalities relative to MRI alone. Detailed visual
assessment of the pancreatic ducts is important in the assessment,
diagnosis and treatment of diseases such as acute and chronic pancreatitis.
This study is being conducted at approximately 25 clinical sites within the
United States and Canada and will enroll approximately 250 patients. This
program has been granted Fast Track De
|SOURCE Repligen Corporation|
Copyright©2008 PR Newswire.
All rights reserved