Northwest Biotherapeutics of Bothell reported a first quarter loss of $2.5 million, or 13 cents a share, compared to a $828,000 loss during the same period last year. The company, which has revived during the past year thanks to venture capital, reported revenue during the first quarter of $87,000, most of which came from research grants.
Cancer conclave features local firms
Sonus Pharmaceuticals Inc. and Seattle Genetics, both of Bothell, are among the companies presenting data this week at the American Society of Clinical Oncology’s annual meeting in Orlando, Fla. Sonus reported that its chemotherapy drug, Tocosol paclitaxel, can deliver 67 percent more active paclitaxel into a patient’s circulation system in 15 minutes than Taxol, the leading drug, can over three hours. Tocosol is in late-stage human trials.
Lowe’s profit hike boosts stock price
Shares of Lowe’s Cos. rose Monday after the nation’s No. 2 home improvement retailer posted a 31 percent gain its first-quarter profits. The earnings fell short of expectations, but investors appeared to accept the chain’s explanation that an unseasonably cool March in key markets like the Northeast was the chief culprit for missing its guidance.
T-bill rates fall in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 2.8 percent, down from 2.85 percent last week. Six-month bills were auctioned at 3.07 percent, down from 3.12 percent last week. The new discount rates understate the actual return to investors – 2.859 percent for three-month bills with a $10,000 bill selling for $9,929.22 and 3.162 percent for a six-month bill selling for $9,844.79. Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, rose to 3.35 percent last week, up from 3.33 percent
Chip sales decline hurts Agilent income
Agilent Technologies Inc., a maker of electronic testing instruments and lab equipment with a division in Everett, said Monday that profits fell 9 percent in its fiscal second quarter as semiconductor sales declined. For the three months ended April 30, Agilent earned $95 million, or 19 cents per share, down from $104 million, or 21 cents per share, a year ago.
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