AtheroGenics (AGIX) Top Q3 EPS by 14c, Guides Above
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AtheroGenics, Inc. (NASDAQ: AGIX) reports a Q3 loss of $0.36, 14 cents better than estimates. Revenues were $10.3 million vs. $6.26 million consensus.
AtheroGenics updated its financial guidance for 2006 to report that it currently expects its net loss per share for the full year to be in the range of $1.65 to $1.75. This range is based on the current forecast for spending in the AGI-1067 development program. The Company further advised that net cash use for 2006 is expected to be in the range of $30-$35 million, which takes into account the $50 million upfront license fee received from AstraZeneca in early 2006. Current FY06 EPS consensus is for a loss of $1.87.
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