MARTINSRIED (dpa-AFX) - Medigene AG (MDGEF.PK), a German biotechnology company, on Friday reported a surge in revenue for the first-quarter. In addition, the firm has reaffirmed its annual revenue guidance.
For the three-month period, in line with the company's expectations, the drug maker posted revenue of 3 million euros, compared with 1.5 million euros, recorded for the same period last year.
Research and development expenses increased to 3.2 million euros from the previous year's 2.3 million euros.
Looking ahead, for the full year, the company still expects to post revenue of 9 million euros to 11 million euros, with research and development expenses of 11 million euros to 13 million euros.
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