MGI reports earnings

MOGN reported third quarter revenue of $55.5 million, up from $21.2 million in the same period in 2003. Sales of Aloxi palonosetron to prevent chemotherapy-induced nausea and vomiting were $47.6 million, up from $4.9 million in the third quarter of 2003. The drug was launched in September 2003. MOGN's third quarter net loss was $89.3 million, or $1.26 per share. The loss includes $83.1 million for acquired in-process R&D related to MOGN's September acquisitions of Zycos and Aesgen and $16.7 million in expenses related to MOGN's licensing deal for rights to cancer compound Dacogen from SuperGen (SUPG). ...