Licensing fees boost Sonus’ Q4 profits

Ultrasound contrast agent developer Sonus Pharmaceuticals reported $3 million in net income for the fourth quarter of 1999 (end-December), due primarily to a second $5 million licensing payment from Nycomed Amersham. Bothell, WA-based Sonus entered into a $10 million patent cross-licensing agreement with Nycomed last September (SCAN 10/13/99). That agreement helped Sonus’ year-end results considerably as well; the company reported revenues of $12 million for 1999, compared to $5 million in 1998. Net income for the year was $400,000, compared to a net loss of $11.2 million for 1998. Sonus is currently awaiting FDA clearance for EchoGen, its first ultrasound contrast agent, which the company already sells in Europe.