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August 6, 2008
By: Tim Wright
Enzon 2Q Revenues: $51.0 million (+4%) 2Q Loss: $1.7 million (loss of $2.0 million in 2Q07) Comments: Contract manufacturing revenue was $6.7 million in the quarter, up 14% due to deliverables. The company warned that it likely will not maintain contract revenues at that level during the rest of the year. Product sales were $29.2 million (+17%), driven by Oncaspar sales up 36% to 13.2 million, DepoCyt sales up 14% to $2.4 million, and Adagen sales up 7% to $7.0 million. Royalties were $15.0 million in the quarter (-18%), impacted by the sale of its royalty interest in Peg-Intron in August 2007.
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