Triangle Pharmaceuticals’ termination of its strategic alliance with Abbott Laboratories resulted in a one-time $14 million boost to the company’s bottom line.
Triangle (Nasdaq: VIRS) reported a net loss Wednesday after the markets closed of $1.05 million, or a penny a share, in the third quarter as a result of the “non-cash recognition” of some $14 million in collaborative revenue the company would have realized in the deal with Abbott.
Triangle lost $18 million in the same quarter a year ago. For 2002, the company has lost $17.7 million.
