BOSTON (Thomson Financial) - Rigel Pharmaceutical Inc. Tuesday said its third-quarter loss widened to $18.9 million, or 61 cents a share, from a loss of $11.4 million, or 46 cents a share, a year ago.
The mean estimate of analysts polled by Thomson Financial was for a loss of 57 cents a share.
The company said it had no contract revenue from collaborations in the third quarter, compared with $6.1 million a year earlier, which included a $3 million payment from of the first of three Phase I studies with R763. Analysts expected revenue of $3.7 million.
Shares of the San Francisco-based drug development company closed Monday at $11.08. Michael Lauenger ml/pc COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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