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Maxigen Biotech Q2 loss narrows YOY

Maxigen Biotech Inc. said its normalized net income for the second quarter amounted to a loss of 1 Taiwan cents per share, compared with a loss of 14 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$889,380, compared with a loss of NT$10.2 million in the year-earlier period.

The normalized profit margin climbed to negative 1.1% from negative 13.7% in the year-earlier period.

Total revenue increased 8.7% year over year to NT$80.6 million from NT$74.1 million, and total operating expenses fell 9.9% year over year to NT$81.7 million from NT$90.7 million.

Reported net income totaled a loss of NT$3.5 million, or a loss of 5 cents per share, compared to a loss of NT$15.6 million, or a loss of 22 cents per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to NT$31.39.