Originally published at www.seclive.com
Alliqua, Inc. (ALQAD) announced its fourth quarter and full-year financial results for the fiscal year 2013, posting rising revenue from a year ago. The advanced wound care products provider published quarterly revenue of $468K, a 17% increase from $400K a year ago, while annual revenue improved 46% from $1.2M to $1.8M. The strong revenue increase is attributed primarily to contract manufacturing, which jumped $400K. Despite the strong progress made in revenue, the company increased its quarterly operating loss from $1.8M last year to $13.4M, due in part to an $8.1M impairment charge related to research and development of its artificial liver technology as well as increases in compensation. For the full-year, Alliqua increased its operating loss from $4.9M last year to $20.1M. CEO David Johnson commented that the company is positioned well to deliver on its goals for the new fiscal year, which includes expanding its product portfolio, driving revenue, and getting regulatory approval for a new product.
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