Synageva BioPharma (GEVA)

[surf1944]

4:03PM Trimeris misses by $0.02, beats on revs (TRMS) 5.96 unch : Reports Q4 (Dec) earnings of $0.18 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.20; revenues fell 0.6% year/year to $12.5 mln vs the $9.6 mln consensus. After June 30, 2008, the Company expects that it will no longer staff any research or development functions. As a result, total operating expenses are expected to be in the range of $10.0 mln to $14.0 mln in 2008 down from $24.0 mln in 2007. The Company expects total operating expenses in 2009 to be in the range of $5.0 mln to $10.0 mln.