NOVATO -- BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced its second-quarter net loss expanded to $5.1 million from $500,000 in the second quarter of 2010.
"We are very pleased with our performance in the first half of 2011," said Jean-Jacques Bienaime, chief executive officer of BioMarin. "Our commercial portfolio has been growing steadily, and our pipeline has advanced significantly. We look forward to many clinical milestones over the next 18 months."
Unadjusted quarterly earnings decreased to $13.9 million, compared with $17.5 million a year before.
The net loss for first six months of the calendar year was $9.4 million, compared with net income of $700,000 for the six months ended in the same period last year. Non adjusted earnings before interest, tax, depreciation and amortization remained exactly the same over the year, at $32.9 million
BioMarin had $412.1 million on hand as of June 30, compared with $394 million at the end of the first quarter.
The share price of BioMarin stock closed at $29.29, down nearly 1 percent from Wednesday.