Ralph
08.11.2000, 22:24
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Protein Design Labs Announces Third Quarter 2000 Financial Results
FREMONT, Calif., Nov. 8 /PRNewswire/ -- Protein Design Labs, Inc. (PDL) (Nasdaq: PDLI - news) today reported revenues of $9.6 million and a net loss of $5.1 million, or $0.13 per basic and diluted share (-$0.16 waren erwartet), for the three months ended September 30, 2000. These results compare with revenues of $10.6 million and net income of $181,000, or $0.00 per basic and diluted share, in the 1999 third quarter. Revenues in the 2000 third quarter included royalty revenues, portions of upfront fees paid to PDL pursuant to humanization agreements, a license maintenance payment, sponsored research and development funding, and interest income. ..... noch nicht mal das Vorjahresquartal übertroffen, na ja .... so gut schaut das nicht aus - um genau zu sein, das gefällt mir gar nicht !
Total costs and expenses in the 2000 third quarter were $14.7 million, compared with $10.4 million in the third quarter of 1999. Research and development expenses were $9.4 million in the third quarter of 2000, compared with $7.9 million in the year-earlier period. General and administrative expenses were $3.0 million and $2.4 million in the 2000 and 1999 third quarters, respectively. Interest expense was $2.3 million in the 2000 third quarter compared with none in the third quarter of 1999.
Revenues during the first nine months of 2000 totaled $45.5 million, a 64% increase over the $27.7 million in revenues reported for the first nine months of 1999. PDL had net income of $698,000, or $0.02 per basic and diluted share in the first nine months of 2000, compared with a net loss of $4.4 million, or $0.12 per basic and diluted share, in the first nine months of 1999.
At September 30, 2000, PDL had cash, cash equivalents and investments totaling $641.6 million, compared with $137.2 million at December 31, 1999. The increase in cash position was due primarily to a public offering of common stock in September 2000 which raised approximately $355.3 million in gross proceeds, and a private placement in February 2000 of $150 million in principal amount of 5.5% convertible subordinated notes due 2007. In October 2000, the underwriters of the September 2000 public offering exercised a portion of their overallotment option, resulting in additional gross proceeds to PDL of approximately $7 million.
In September 2000, PDL announced agreements to humanize two or more murine antibodies for Eli Lilly and Company. Under these agreements, PDL has received non-refundable, non-creditable upfront signing fees totaling $3.06 million, and is entitled to receive milestone payments upon the achievement of specified objectives, annual maintenance fees and royalties on sales of the humanized antibodies. PDL recognizes upfront fees from humanization contracts over the period in which the work is conducted, typically several months. In the 2000 third quarter, PDL recognized as revenue less than 20% of the total upfront signing fees under these agreements.
PDL also announced today that the Data Safety Monitoring Board for its Phase III trial of the SMART M195 Antibody has concluded its planned interim analysis and recommended that the trial continue. The Phase III trial is a randomized, multicenter international trial of up to 200 patients with refractory or first-relapsed acute myeloid leukemia. The interim analysis was based upon the first 30 patients entered into each of the two arms of the study and included efficacy and safety criteria.
PDL will webcast a conference call live at 4:30 p.m. Eastern time today to review its third quarter financial results and to provide forward looking information and guidance with respect to future results. To access the webcast, log on to:
Source: http://biz.yahoo.com/prnews/001108/ca_protein_3.html
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Wie zu erwarten war, wird PDLI nachbörslich weiter verkauft ! ....
Ralph
Protein Design Labs Announces Third Quarter 2000 Financial Results
FREMONT, Calif., Nov. 8 /PRNewswire/ -- Protein Design Labs, Inc. (PDL) (Nasdaq: PDLI - news) today reported revenues of $9.6 million and a net loss of $5.1 million, or $0.13 per basic and diluted share (-$0.16 waren erwartet), for the three months ended September 30, 2000. These results compare with revenues of $10.6 million and net income of $181,000, or $0.00 per basic and diluted share, in the 1999 third quarter. Revenues in the 2000 third quarter included royalty revenues, portions of upfront fees paid to PDL pursuant to humanization agreements, a license maintenance payment, sponsored research and development funding, and interest income. ..... noch nicht mal das Vorjahresquartal übertroffen, na ja .... so gut schaut das nicht aus - um genau zu sein, das gefällt mir gar nicht !
Total costs and expenses in the 2000 third quarter were $14.7 million, compared with $10.4 million in the third quarter of 1999. Research and development expenses were $9.4 million in the third quarter of 2000, compared with $7.9 million in the year-earlier period. General and administrative expenses were $3.0 million and $2.4 million in the 2000 and 1999 third quarters, respectively. Interest expense was $2.3 million in the 2000 third quarter compared with none in the third quarter of 1999.
Revenues during the first nine months of 2000 totaled $45.5 million, a 64% increase over the $27.7 million in revenues reported for the first nine months of 1999. PDL had net income of $698,000, or $0.02 per basic and diluted share in the first nine months of 2000, compared with a net loss of $4.4 million, or $0.12 per basic and diluted share, in the first nine months of 1999.
At September 30, 2000, PDL had cash, cash equivalents and investments totaling $641.6 million, compared with $137.2 million at December 31, 1999. The increase in cash position was due primarily to a public offering of common stock in September 2000 which raised approximately $355.3 million in gross proceeds, and a private placement in February 2000 of $150 million in principal amount of 5.5% convertible subordinated notes due 2007. In October 2000, the underwriters of the September 2000 public offering exercised a portion of their overallotment option, resulting in additional gross proceeds to PDL of approximately $7 million.
In September 2000, PDL announced agreements to humanize two or more murine antibodies for Eli Lilly and Company. Under these agreements, PDL has received non-refundable, non-creditable upfront signing fees totaling $3.06 million, and is entitled to receive milestone payments upon the achievement of specified objectives, annual maintenance fees and royalties on sales of the humanized antibodies. PDL recognizes upfront fees from humanization contracts over the period in which the work is conducted, typically several months. In the 2000 third quarter, PDL recognized as revenue less than 20% of the total upfront signing fees under these agreements.
PDL also announced today that the Data Safety Monitoring Board for its Phase III trial of the SMART M195 Antibody has concluded its planned interim analysis and recommended that the trial continue. The Phase III trial is a randomized, multicenter international trial of up to 200 patients with refractory or first-relapsed acute myeloid leukemia. The interim analysis was based upon the first 30 patients entered into each of the two arms of the study and included efficacy and safety criteria.
PDL will webcast a conference call live at 4:30 p.m. Eastern time today to review its third quarter financial results and to provide forward looking information and guidance with respect to future results. To access the webcast, log on to:
Source: http://biz.yahoo.com/prnews/001108/ca_protein_3.html
**************************************************
Wie zu erwarten war, wird PDLI nachbörslich weiter verkauft ! ....
Ralph