Princeton-based Medarex Inc. reported increased losses. Medarex’s net loss for the quarter ended Sept. 30, 2007 was $51.6 million, or $0.41 per share as compared to a net loss of $45.9 million, or $0.37 per share for the third quarter of 2006. Included in the 2007 results was $2.4 million, or $0.02 per share of the net loss of Celldex Therapeutics, Inc. (a 60 percent owned subsidiary of Medarex), an acquisition of in-process technology charge of $6.9 million, or $0.05 per share related to the acquisition of Ability Biomedical Corp. and a non-cash charge of $6 million, or $0.05 per share for stock based compensation. Total Medarex revenues for the quarter ended Sept. 30, 2007 were $12.4 million as compared to $12.4 million for the third quarter of 2006.
