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Maxigen Biotech Q3 loss widens 98.4% YOY

Maxigen Biotech Inc. said its normalized net income for the third quarter came to a loss of NT$628,750, compared with a loss of NT$316,880 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.9% from negative 0.5% in the year-earlier period.

Total revenue grew 6.4% year over year to NT$67.1 million from NT$63.1 million, and total operating expenses grew 8.9% year over year to NT$72.8 million from NT$66.9 million.

Reported net income totaled a loss of NT$6.0 million, or a loss of 8 cents per share, compared to a loss of NT$1.2 million, or a loss of 2 cents per share, in the prior-year period.

As of Nov. 16, US$1 was equivalent to NT$32.83.