Email Newsletters

Worse quarter, better year at Penwest

Fourth quarter losses at

Penwest Pharmaceuticals

of Danbury widened to $8.9 million, or $0.38 per share, from $5.3 million in fourth quarter 2005. Its annual losses narrowed by 27 percent to $22.9 million, or $1.05 per share for the year. Fourth quarter revenue fell to $739,000, down from $931,000 in fourth quarter 2005, due largely to reduced royalty payments from licensees. Fourth quarter R&D expenses jumped 68 percent to $6.4 million, driven by development costs of early-stage drugs. Penwest develops treatments for unmet medical needs, primarily nervous system diseases.

 

Learn more about:
– Digital Partners -

Get our email newsletter

Stay up-to-date on the companies, people and issues that impact businesses in Central Massachusetts.

Close the CTA