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Decline in R&D agreements impacts revenues
May 10, 2013
By: Tim Wright
Anacor Pharmaceuticals 1Q Revenues: $1.7 million (-29%) 1Q Loss: $15.1 million (loss of $14.3 million in 1Q12) Comments: Contract revenue decline was due to a decrease in research work performed under R&D agreements. R&D expenses were $11.2 million, down 12%. On April 5, 2013, the company entered a research agreement with the Gates Foundation to discover drug candidates to treat elephantiasis and tuberculosis. Anacor will receive as much as $17.7 million over three years for research activities.
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