Nelson Research & Development Co. reported a third-quarter net loss of $627,000 compared with a net loss of $596,000 for the comparable period a year earlier.
The Irvine pharmaceutical concern attributed the loss to continuing research and development on new drugs. The 14-year-old company has not developed a marketable product since it went public in 1981. The company was profitable in 1981 and 1983, chiefly because of interest income.
Third-quarter revenue was $672,000, compared to revenue of $696,000 for the same period the prior year. Most of its revenue is from interest income and royalties on licenses it holds.
For the nine months, the company reported a net loss of $1.8 million on revenue of $2.1 million compared to a net loss of $1.5 million on revenue of $2.4 million for the comparable period last year.
The company said it expects to report a loss for the year similar to its loss last year of $2.4 million.