Avigen revenue falls in Q3 - San Francisco Business Times:

hydiuco.blogspot.com
The biotechnology company reported a net lossof $6.5 million, or 32 centd a share, on revenue of $8,000 for the quartefr ended Sept. 30. Last year over the same the company reported a net lossof $6.9 million, or 34 cent a share, on revenue of $140,000. Analysts surveyed by Thomson Firsf Call estimated a net loss of33 cents. Total operating expensex for the most recent quartefwas $6.9 million, compared to $7.7 million for the same perior in 2003.
In the company announced a restructuriny andlayoff plan, cutting its work force by 40 In a statement, Kenneth Chahine, the company' chief executive officer, said that the quarter's financial resultsz are in line with management expectations and consistenft with the company's realigned product development As of Sept. 30, the company had approximately $81 millioh in cash, cash equivalents, available-for-sale securities and restricte d investments. Shares of the company AVGN) were up 6.7 percent to $3.
37 at