Alexion's second-quarter and first-half revenues rise

By Lisa Kerner

Charlotte, N.C., Aug. 9 - Alexion Pharmaceuticals, Inc. said second-quarter revenues rose to $0.3 million from $0.2 million for the second-quarter 2005.

The company said it had a net loss for the quarter of $33.2 million, or basic and diluted loss per share of $1.06, an improvement from the prior-year period's net loss of $35.1 million, or basic and diluted loss per share of $1.25.

Revenues for the first half of 2006 rose to $1.1 million, from $0.7 million in the prior-year period.

For the six-month period ended June 30, Alexion reported a decreased net loss of $60.4 million, or loss per share of $1.94, from a $61.7 million net loss, or $2.21 loss per share, for the first half of 2005.

The company posted investment income for the second quarter ended June 30 of $2.0 million, up from $1.4 million for the same period last year.

As of June 30, Alexion had approximately $165.0 million in cash, cash equivalents and marketable securities compared to $212.5 million at Dec. 31, 2005.

For the year ending Dec. 31, 2006, Alexion said it expects its net loss to be in a range of $115 million to $125 million, excluding the expense of employee stock options and other stock-based compensation expense.

Alexion said it plans to submit marketing applications for Soliris (eculizumab) in both the United States and Europe in the second half of this year. The company will use data from the clinical study of Soliris in paroxysmal nocturnal hemoglobinuria (blood disorder), including the phase 3 Triumph pivotal efficacy study data and interim analysis of the phase 3 Shepherd study.

In addition, the European Medicines Agency has accepted Alexion's request for evaluation of its anticipated Marketing Authorization Application for Soliris in paroxysmal nocturnal hemoglobinuria under the accelerated assessment procedure.

Alexion is a biotechnology company located in Cheshire, Conn.

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