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News & Analysis US

Angiotech Pharma Posts Wider Q3 Loss - Quick Facts

November 9, 2010, Tuesday, 18:21 GMT | 13:21 EST | 22:51 IST | 01:21 SGT

(RTTNews) - Angiotech Pharmaceuticals, Inc. (ANPI) Tuesday posted a wider loss for the third quarter, hurt by a combination of lower royalty revenues and higher expenses.

Net loss for the quarter widened to $18.5 million or $0.22 per share from $7.8 million or $0.09 per share in the year-ago period.

Adjusted net loss amounted to $8.15 million or $0.10 per share, versus adjusted net loss of $72 thousand last year.

The company's revenue for the period dropped to $58.98 million from $63.24 million for the comparable period last year

Royalty revenue totaled $7.06 million, versus $14.53 million in the prior year period.

Seperately, the company said that it entered into an updated and amended credit facility and Forbearance deal with Wells Fargo Capital Finance, LLC.