Momenta Pharmaceuticals Inc. (NASDAQ: MNTA) reported Thursday that it posted a narrower loss in its fiscal fourth-quarter loss, citing a boost in revenue from drug development partnerships, according to Associated Press.
The biotechnology company lost $14.7 million, or 34 cents per share, compared with a loss of $18.4 million, or 50 cents per share, in the year-ago period. Revenue rose to $5.6 million from $2.9 million.
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The results beat expectations of analysts polled by Thomson Reuters, who expected a loss of 36 cents per share on revenue of $4.2 million.
For the full year, the company lost $64 million, or $1.60 per share, compared with a loss of $62.6 million, or $1.74 per share, in 2008. Revenue rose to $20.2 million from $14.6 million.
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