Friday, November 11, 2005

Large Scale Biology Corp reports third quarter results

VACAVILLE - Large Scale Biology Corp. reported third-quarter losses Tuesday of $3.3 million compared with $4.2 million in losses for the same period last year.

Revenues were $1.1 million, an increase of $600,000 over the third quarter of 2004. The company primarily attributed the increase to a $400,000 settlement with the National Institute of Environmental Health Sciences related to the termination of a contract in 2003.

The bio-tech firm entered into a three-year private equity agreement with Brittany Capital Management for a $15 million line of credit in the third quarter.

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