Kosan Biosciences (KOSN)

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bizjournals.com
Kosan re-prioritizes as loss widens
Friday February 29, 11:14 am ET

Kosan Biosciences Inc. said it will re-prioritize to focus its most promising drug candidates as its fourth-quarter loss expanded compared to the year ago quarter.

The Hayward cancer drug developer lost $9.5 million in the fourth quarter compared to $4.6 million in the same period last year.

Revenue was flat, with fourth quarter sales of $5.6 million compared to $5.7 million in the year-ago quarter.

Kosan's (NASDAQ: KOSN - News) top priorities in 2008 are advancing the use two new classes of anticancer agents through clinical develop, said Helen Kim, Kosan's president and chief business officer.

The company had $71 million in cash, cash equivalents, restricted cash and marketable securities at the end of 2006, compared to $64.1 million at the end of 2006.

Published February 28, 2008 by the East Bay Business Times