March 26, 2007
Symbollon posts 2006 loss
By Matthew L. Brown
Framingham-based Symbollon Pharmaceuticals Inc. reported that company losses deepened in 2006.
Symbollon, a specialty pharmaceutical company, reported a net loss for 2006 of $3.04 million compared to a net loss of $645,973 in the previous year.
Total revenue for 2006 was $40,000 for 2006, compared with $450,000 for the previous year.
Symbollon said the widening loss "resulted primarily from increased clinical development" of IoGen, a treatment for "pain and tenderness."
The company also blamed compensation expenses related to stock option grants, investor relations and other consultant costs, and decreased research and development collaboration revenue for the loss.
Symbollon, a specialty pharmaceutical company, reported a net loss for 2006 of $3.04 million compared to a net loss of $645,973 in the previous year.
Total revenue for 2006 was $40,000 for 2006, compared with $450,000 for the previous year.
Symbollon said the widening loss "resulted primarily from increased clinical development" of IoGen, a treatment for "pain and tenderness."
The company also blamed compensation expenses related to stock option grants, investor relations and other consultant costs, and decreased research and development collaboration revenue for the loss.
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