NeoRx settles investor lawsuits

March 15, 1995

Monoclonal antibody developer NeoRx of Seattle last month settled a lawsuit filed against it by shareholders.The litigation was related to a public stock offering made byNeoRx in December 1993 (SCAN 6/15/94). The settlement is for stockor a combination

Monoclonal antibody developer NeoRx of Seattle last month settled a lawsuit filed against it by shareholders.The litigation was related to a public stock offering made byNeoRx in December 1993 (SCAN 6/15/94). The settlement is for stockor a combination of stock and cash worth $1.5 million. A substantialportion of the settlement will be covered by insurance, the companysaid.

NeoRx last month also reported its financial results for 1994(end-December). The company reported a net loss of $11.1 millionon revenues of $1.6 million for the year, compared to a net lossof $8.5 million and revenues of $3.7 million in 1993.