Oxigene reports net loss of $4.9 million for second quarter

By Lisa Kerner

Charlotte, N.C., July 26 - Oxigene Inc. reported a second-quarter net loss for the three months ended June 30 of $4.9 million, or $0.18 per share, an increase from the prior-year period's net loss of $3.05 million, or $0.15 per share.

For the six-month period ended June 30, the company had a net loss of $8.3 million, or $0.30 per share, an increase from the net loss of $5.08 million, or $0.27 per share, for the comparable period in 2005.

At June 30, Oxigene had cash, cash equivalents and marketable securities of $51.7 million, down from the $58.9 million at Dec. 31, 2005.

Company highlights for the quarter include enrollment of the majority of patients for the myopic macular degeneration phase 2 study and the decision to randomize patients in the phase 2/3 non-small cell lung cancer trial.

Oxigene is an emerging pharmaceutical company located in Waltham, Mass.

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