Net research and development expenses for the six-month period of 2011 were $4.4 million, compared to $2.8 million in the same period of 2010. The increased R&D expenses in the six-month period of 2011 were primarily related to the continued development of the pipeline vaccines, including the expenses for the EV71 vaccine with the Phase II clinical trial underway, the trial production of the animal rabies vaccine and mumps vaccine, and other R&D projects.
Depreciation of property, plant and equipment and amortization of license and permits for the six-month period of 2011 were $846,000, compared to $511,000 for the same period of last year. The change compared to 2010 was primarily attributable to amortization on the Changping production facility, which started to amortize in September 2010 and higher depreciation for Tangshan Yian's new animal production line.
Total operating expenses for the six-month period of 2011 were $14.2 million, compared to $10.3 million in the comparative period of 2010.
The operating loss for the six months ended June 30, 2011 was $300,000, compared to an operating income of $1.8 million for the same period of the prior year. The year over year change was primarily attributable to the lower gross margin due to the product mix. Excluding the recognition of revenue coming from pandemic flu vaccines of prior order, the year over year change was primarily attributable to the increased R&D expenses, SG&A expenses and depreciation of property, plant and equipm
|SOURCE Sinovac Biotech Ltd.|
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