Repligen reports cash of $22 million, flat second-quarter revenue

By Lisa Kerner

Charlotte, N.C., Nov. 2 - Repligen Corp. said cash and marketable securities at Sept. 30 totaled about $22 million, down slightly from the $23 million as of March 31, 2006.

The company said its total revenue for the second quarter of fiscal-year 2007 ended Sept. 30 was slightly more than $2.8 million and consisted primarily of Protein A and SecreFlo sales. Total revenue for the same period in 2005 was $2.8 million.

Gross profit on product revenue for the three months was down a bit at $1.7 million (66%) from $1.8 million (68%) for the second quarter of fiscal 2006.

The company reported operating expenses for the second quarter of $3.9 million, an increase from the $3.5 million reported for the same period in fiscal 2006.

Repligen had a net loss for the quarter of $863,000 or $0.03 per share, compared with a net loss of $468,000 or $0.02 per share, for the second quarter last year.

"We are pleased to have made progress this quarter in developing our pipeline and prosecuting our intellectual property while maintaining a relatively low burn rate," president and chief executive officer Walter C. Herlihy said in a news release.

Results fro the six months ended Sept. 30 include total revenue down 8% at $6.5 million, gross profit of $4.14 million (68%) and increased operating expenses of $7.7 million. Repligen reported a net loss for the six months of $763,000, or $0.03 per share, compared with net income of $1.7 million, or $0.06 per share, in the same period in fiscal 2006.

Repligen is a biopharmaceutical company based in Waltham, Mass.

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