| CATEGORY: SMALL CAPS NEWS SECTOR: PHARMACEUTICALS & BIOTECHNOLOGY |
Acambis upbeat on US contract |
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Tue 25 Sep 2007
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LONDON (SHARECAST) - Vaccine developer Acambis is comfortable with current market expectation of around $30m of revenues this year from an, as yet not awarded, ACM2000 smallpox vaccine contract from the US government.
The potential timing of a contract award means it is unlikely to recognise the first full year of contract revenues in our 2007 financial year, Acambis added. It received FDA approval in August, which it says it is a pivotal step towards finalising a long-term contract with the US authorities.
Losses in the first half of 2007 remained high though the deficit reduced sharply in the second three months of the period.
The group, which also recently settled a patent dispute with Danish group Bavarian over Modified Vaccinia Ankara smallpox vaccines, posted a deficit of £19.3m in the half year to June, with the second quarter loss down from £11.5m to £7m. Revenues over the first 6 months tumbled from £10.6m to £3.4m.
Developments with the ChimeriVax-JE vaccine programme with sanofi pasteur mean that R&D expenditure for 2007 will be now be between £20m and £23m, Acambis added.
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