WASHINGTON (dpa-AFX) - Trimeris, Inc. (TRMS) reported net income for the second quarter of $673,000 or $0.03 per share, compared with $1.3 million or $0.06 per share for the year-ago quarter.
Total revenue for the second quarter grew $3.45 million from $3.26 million fa year ago. Milestone revenue rose to $973,000 from $66,000 last year, while collaboration income and royalty revenue fell to $2.47 million from $3.20 million a year earlier.
Trimeris entered into a new royalty arrangement with F. Hoffmann-La Roche Ltd. and Hoffmann-La Roche Inc. pursuant to an Amended and Restated Agreement dated as of May 25, 2011 and effective as of January 1, 2011.
Because the new Roche agreement fundamentally changed the calculation of amounts payable to Trimeris, comparisons of financial results between the quarters ended June 30, 2011 and June 30, 2010 are not directly comparable, the company said.
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