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Biotechnology industries

GPC Biotech Reports Financial Results for 2004

Strategic Insights

— 1 min read

GPC Biotech, AG, a biotech company focusing on developing anticancer drugs, reported financial results for the fourth quarter and fiscal year ended December 31, 2004. The company's revenues decreased 41% to €12.6 million in 2004 compared to €21.6 million in 2003, primarily due to the expiration of several technology alliances in 2003. Despite this decrease, GPC Biotech continued to focus on discovering and developing new anticancer drugs, with significant progress in its lead drug candidate satraplatin, including the completion of the SPARC phase III registrational trial with 500 patients accrued as of March 10, 2005.

Key Takeaways:

  • Revenues decreased 41% to €12.6 million in 2004 from €21.6 million in 2003.
  • Research and development (R & D) expenses increased 7% to €40.2 million in 2004 from €37.7 million in 2003.
  • General and administrative (G & A) expenses increased 14% to €13.2 million in 2004 from €11.5 million in 2003.
  • The satraplatin SPARC phase III registrational trial enrolled 500 patients as of March 10, 2005.
  • GPC Biotech also opened several additional clinical trials to explore the potential of satraplatin in oncology areas beyond hormone-refractory prostate cancer.
  • The company strengthened its drug-discovery capabilities through the acquisition of Axxima Pharmaceuticals' assets.

Statistics:

  • Revenues: €12.6 million (2004), €21.6 million (2003)
  • R & D expenses: €40.2 million (2004), €37.7 million (2003)
  • G & A expenses: €13.2 million (2004), €11.5 million (2003)
  • Patients accrued in the satraplatin SPARC phase III registrational trial: 500 (as of March 10, 2005)

Sources:

  • "GPC Biotech, AG Reports Financial Results for the Fourth Quarter and Fiscal Year Ended December 31, 2004," NewsRx.com
  • Health & Medicine Week, Copyright 2005, Health & Medicine Week via NewsRx.com

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