Guest guest Posted June 13, 2000 Report Share Posted June 13, 2000 Hi, here's another excerpt from a mail to cystic-l. As you can see, I am in the process of catching up on my e-mail account. Bye-bye Torsten, dad of Fiona 3wcf e-mail: aberdeen95@... Since 1998, PathoGenesis has sold a drug solution called TOBI to U.S. consumers. Despite being heralded as a major advancement in the treatment of cystic fibrosis, TOBI did not catch on as well as anticipated. The company has had only one profitable year since going public in 1995 and the stock has swung up and down, falling precipitously in March 1999 after an overestimation in earnings projections. Last year the company had a loss of $8.2 million, or 50 cents a share, and revenue declined slightly to $60.8 million. In 1998, it had net income of $1.9 million, or 11 cents a share, on revenue of $61.1 million. But the company has continued to grow, increasing from about 250 employees to nearly 290 since early 1999. Product development has continued as well, and Meyer said the company is " on track for approval " to sell TOBI in Europe. He added that the company was researching new drugs to treat respiratory infections and working on the " next generation of TOBI. " The new product, targeted for sale in 2002, would be a portable, palm-sized device that would deliver the antibiotic in under 10 minutes. TOBI is now delivered with an apparatus that must be attached to an air compressor and takes more than 15 minutes to administer. Quote Link to comment Share on other sites More sharing options...
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