ZymoGenetics, which announced plans to cut its work force by 32 percent in April, reduced its net loss during the second quarter as it benefited from licensing deals and sales of Recothrom. The Seattle biotech lost $27 million, or 39 cents per share. That compared to a net loss of $37.4 million, or 54 cents per share for the same period last year.
Revenues came in at $22.6 million, an increase of $10 million over the second quarter of last year. The company finished the quarter with $118 million in cash and cash equivalents on the books.
That figure does not include a $25 million milestone payment from Bristol-Myers Squibb from July or an additional $70 million from the PEG-Interferon lambda collaboration agreement.
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