March 6, 2008
Revenue, Losses Mount At GTC
By Matthew L. Brown
Despite more than doubling its revenue in 2007, Framingham-based GTC Biotherapeutics Inc. reported a $36.3 million net loss for the year.
The loss is an increase over the $35.3 loss the company reported for the previous year.
However, revenue for 2007 was $13.9 million compared to $6.1 million the previous year. Fourth quarter revenue was $3.1 million compared to $2.8 million in the same period the prior year.
The company reported a fourth quarter net loss of $9.8 million compared to a net loss of $7.4 million the year before.
GTC develops human proteins designed to prevent blood clots in surgery patients. The proteins are developed inside genetically modified goats.
The loss is an increase over the $35.3 loss the company reported for the previous year.
However, revenue for 2007 was $13.9 million compared to $6.1 million the previous year. Fourth quarter revenue was $3.1 million compared to $2.8 million in the same period the prior year.
The company reported a fourth quarter net loss of $9.8 million compared to a net loss of $7.4 million the year before.
GTC develops human proteins designed to prevent blood clots in surgery patients. The proteins are developed inside genetically modified goats.
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