ImClone Systems Incorporated Reports 1994 Financial Results

Strategic Insights -

ImClone Systems Incorporated, a biopharmaceutical company specializing in cancer treatment and related disorders, has released its 1994 financial results. Despite a net loss, the company showed promising revenue growth and a significant decrease in operating expenses.

Key Takeaways:

  • The company reported revenues of $950,000 for the year ended December 31, 1994, a significant increase from $5,403,000 in the comparable period last year.
  • Net loss decreased by $1,811,000 to $12,191,000, or $1.12 per share, compared to a net loss of $14,002,000, or $1.58 per share, for the previous year.
  • Operating expenses dropped to $15,164,000 from $18,251,000 in the previous year.
  • The company's cash, cash equivalents, and short-term investments totaled $3,032,000 as of December 31, 1994.
  • Revenue for the fourth quarter of 1994 was $175,000, with a net income of $194,000, or $0.02 per share, compared to a net loss of $3,635,000, or $0.38 per share, for the comparable period in 1993.

Statistics:

  • Revenues for 1994: $950,000
  • Net loss for 1994: $12,191,000, or $1.12 per share
  • Operating expenses for 1994: $15,164,000
  • Cash, cash equivalents, and short-term investments as of December 31, 1994: $3,032,000
  • Revenue for the fourth quarter of 1994: $175,000
  • Net income for the fourth quarter of 1994: $194,000, or $0.02 per share

Sources:

  • "ImClone Systems Incorporated Reports 1994 Financial Results." Business Wire, April 17, 1995.
  • ImClone Systems Incorporated. (n.d.). About Us. Retrieved from (Note: This source does not provide a date or publication date, so it is listed as is.)