Epix grows sales, reduces net loss in 3Q
Higher product development revenues lifted Epix Medical Inc.'s financial results in the third quarter.

 The developer of specialty pharmaceuticals for MRI reported revenues of $3.9 million, compared with $2.8 million in the third quarter of 2002. Epix cited May collaboration agreements with Schering AG, of Berlin, for EP-2104R and MRI research and to an increase in royalties from Bracco S.p.A., of Milan, Italy. These increases were partly offset by decreases in product development revenues from MS-325, the Company's lead product under development, resulting from completion of the Phase III clinical program.

 For the nine-month period, revenues climbed to $11.2 million, compared with $8.6 million in the same period of 2002. The net loss slid to $12.4 million, compared with a net loss of $16.9 million in the year-ago period.