MedImmune Inc., the Gaithersburg biotechnology company developing vaccines for infectious diseases and transplant medicine, reported its fourth annual loss in as many years yesterday.
The company said it posted a net loss of $22.7 million, or $1.41 per share, on revenues of $27.4 million in the fiscal year ended Dec. 31. This compares with a net loss of $18.8 million, or $1.29 per share, on revenues of $18.9 million, in 1994.
MedImmune said it lost $8.6 million, or 49 cents a share, on revenues of $7 million, in the fourth quarter of 1995, compared with a loss of $6 million, or 41 cents per share, on revenues of $7.4 million in the same quarter of 1994.
The 1995 annual loss included $5.3 million attributed to several one-time charges, the company said.
Those included a $2 million payment to BioTransplant Inc. of Massachusetts, with which MedImmune formed a strategic alliance to develop transplant drugs; a $2.7 million charge for a change to an agreement with Connaught laboratories to market MedImmune's CytoGam vaccine; and $600,000 to settle a lawsuit.
Company executives were said to be out of town and unavailable for comment yesterday.
In a press release, the company downplayed its losses and focused instead on improved sales for its CytoGam vaccine, which was developed to protect against infection after kidney transplants.