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Alexion Posts Q2 Results
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Business New Haven
3/19/2001
By: BNH
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CHESHIRE - Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) March 8 announced financial results for its second fiscal quarter and first half year ended January 31. During its second quarter Alexion posted revenues of $3.03 million, compared to $6.68 million for the same period ended January 31, 2000. Important revenue elements include clinical trial and clinical manufacturing reimbursements and research and development support payments received under Alexion's collaboration with Procter & Gamble Pharmaceuticals on its C5 complement inhibitor, pexelizumab. The lower revenues reflect the completion of the Phase IIb trial in cardiopulmonary-bypass patients and resultant lower pexelizumab clinical trial and clinical manufacturing reimbursements.
R&D expenses for the three-month period were $9.4 million, or slightly lower than the $9.84 million for the same period a year before, due primarily to lower clinical manufacturing and clinical trial costs associated with pexelizumab.
For the six months ended January 31, Alexion revenues were $6.28 million compared to $12.97 million for the same period last year. The decrease in revenue was likewise attributed by the company to lower clinical trial and clinical manufacturing reimbursements from P&G for pexelizumab. Research and development expenditures were $20.32 million for the first half of the present fiscal year, compared to $20.98 million for the six months ended January 31, 2000.
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