Biotech Survival Index: Boston Life Sciences Companies Brace for Long, Hard Winter
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—Boston Scientific (NYSE: BSX). The Natick, MA-based medical device company reported a $62 million net loss in the quarter quarter, but had stashed away $1.7 billion in cash and investments.
—Bruker (NASDAQ: BRKR). The Billerica, MA-based maker of scientific instruments generated a $17.8 million profit in the third quarter, and had $87 million in cash at the end of September. It had $72.9 million socked away at the beginning of the year.
—Caliper Life Sciences (NASDAQ: CALP). This Hopkinton, MA-based maker of scientific tools started the year with $19.4 million in cash, and had $8.9 million left on the balance sheet at the end of September. It had a net loss of $5.4 million in the third quarter. (Update: Caliper CEO Kevin Hrusovsky sent an e-mail adding that the company generated $18.8 million in cash on Nov. 10 by selling two product lines. “It helps our cash position immensely during the current troubled environment,” he wrote.
—Celldex Therapeutics (NASDAQ: CLDX). This Needham, MA-based company had $42.7 million on hand at the end of September, which it says is enough to go into the second half of 2010.
—Charles River Laboratories (NYSE: CRL). This Wilmington, MA-based maker maker of research tools had a $44.7 million profit in the third quarter, and $212.9 million in cash and investments on board at the end of September.
—Clinical Data (NASDAQ: CLDA). This Newton, MA-based company had $52.1 million in cash at the end of September. It had $54.8 million on hand six months earlier.
—CombinatoRx (NASDAQ: CRXX). This Cambridge, MA-based company has been hunkering down since its lead arthritis drug failed in a clinical trial last month. It cut two-thirds of its staff, bringing the payroll down to 55, so it can make its cash last four years. It had $69.5 million in the bank at the end of September.
—Cubist Pharmaceuticals (NASDAQ: CBST). The Lexington, MA-based maker of a potent antibiotic is coming off a strong quarter. Its revenues climbed 40 percent, and it had accumulated a cash stockpile of $373 million. It turned a profit of $27.9 million in the quarter, although new competition could be coming soon from Theravance’s telavancin.
—Curis (NASDAQ: CRIS). This Cambridge, MA-based company had $29.9 million in cash and investments at the end of September, and expects to spend just $2 million to $4 million of it through December. The company says it has enough cash to operate into the first half of 2010.
—Dyax (NASDAQ: DYAX). The Cambridge, MA-based company had $74.5 million in cash and investments at the end of September. That’s enough to operate “well into 2009″ the company says.
—Epix Pharmaceuticals (NASDAQ: EPIX).This Lexington, MA-based developer of an Alzheimer’s drug burned through $26 million of its cash in the first nine months, and had $34.5 million left in the bank at the end of September. It cut 23 percent of its staff last month, and has enough cash to run through the first quarter of 2009. … Next Page »