LONDON (Thomson Financial) - Incyte Corp. said its fourth quarter net loss
widened to $21.8 million, or 26 cents a share from $20.5 million, or 24 cents a
share a year ago.
The pharmaceutical company said revenue for the three-month period rose to
$9.8 million from $7.1 million.
"The increase was the result of the $3 million milestone payment and
revenues recognized in 2007 under our collaborative research and license
agreement with Pfizer," the company said.
Analysts polled by Thomson Financial had forecast a loss, on average, of 28
cents a share on revenue of $8.7 million.
For 2008, the company said it expects revenue in the range of $3 million to
$3.5 million, excluding any funds it may receive from its collaboration with
Pfizer.
Mark.cotton@thomson.com
mc1/pc
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