Earnings: Nastech Pharmaceutical losses up over last year

Bothell's Nastech Pharmaceutical posted a net loss of $16.5 million, or 63 cents a share, for the first three months of 2008, compared with a net loss of $11.5 million, or 47 cents a share, during the first quarter of 2007. The company's revenue fell to $1.3 million from $5 million. Nastech, which has refocused its business around its RNA interference technology, also said it had hired an investment bank to help it out-license or sell its nasal spray business.

Seattle's Emeritus Corp., a provider of assisted living and dementia-care services, reported a widened net loss of $25.9 million, or 67 cents per share, for its first quarter ended March 31. That compares with a net loss of $9.7 million, or 53 cents per share, in the year-ago period.

First-quarter revenue was $186.5 million, compared with $103.2 million in first-quarter 2007. Granger Cobb, president and co-chief executive, characterized the first-quarter results as "solid."

Hardware and software maker BSquare, of Bellevue, posted quarterly net income of $1 million, or 10 cents per share. That compares with net income of $638,000, or 6 cents per share, in the year-ago period. Quarterly revenue was $17.1 million, compared with $15.1 million in first-quarter 2007.

Trubion Pharmaceuticals of Seattle posted a net loss of $6 million, or 33 cents a share, for the first quarter of 2008, compared with a net loss of $5 million, or 29 cents a share, during the same period a year ago. The company said its revenue fell to $4 million, down from $4.8 million during the first three months of 2007.

Seattle-based Dendreon, which is developing the prostate cancer treatment Provenge, reported a net loss during the three months ended March 31 of $19.5 million or 23 cents a share, versus $30.9 million, or 38 cents per share, during the first quarter of 2007. As the company waits to report interim results of a clinical trial of Provenge, its research and development costs have fallen.

Cell Therapeutics said its net loss for the first quarter of 2008 was $54 million, or 77 per share, compared with $29 million, or 76 cents a share, during the same period a year ago, partly because the Seattle-based biotech company spent $16.2 million to induce holders of preferred stock to convert their shares into common stock. The company's revenue jumped to $3.4 million from $20,000, as it benefited from sales of Zevalin, a drug it acquired from Biogen Idec late last year.

Seattle-based Eddie Bauer Holdings posted a net loss of $19.3 million, or 63 cents a share, for the first quarter of 2008, compared with a net loss of $44.8 million, or $1.47 a share, during the same period a year ago. Revenue fell slightly to $213.2 million during the quarter from $214 million a year ago, although same-store sales inched up 0.5 percent.