Four North Carolina-based life science firms report a mixed bag of results for the second quarter – with the exception of Salix.
At Raleigh-based Salix, revenues climbed 36 percent to $181 million with net income after one-time and other expenses of $50.1 million or 79 cents per share.
For the first six months of the year, revenues jumped 47 percent to $352.1 million, Salix reported.
In Chapel Hill, Cempra reported a net loss of $9.5 million, or 45 cents per share. That’s up considerably from a year ago’s loss of $6.1 million.
Higher research and development costs of $7.4 million – a 70 percent jump – led to the bigger loss, Cempra reported.
In Winston-Salem, Targacept reported net income of $14.5 million thanks in large part to a $14.6 million payment from AstraZeneca and a $7.7 million decrease in research and development after the company cut back programs and reduced workforce.
Cary-based Cornerstone said revenues declined for the quarter to $21.5 million from $28 million a year earlier. The drop reflected Cornerstone’s sale of what it called “non-strategic assets.”