Ardea Biosciences falls on Q4 loss
Shares of Ardea Biosciences, Inc. (Nasdaq:RDEA) are lower on news before the start of trading that the drug maker widened its fourth-quarter loss. The San Diego-based company reported that its net loss for the three months ended Dec. 31, 2007, was $9.1 million, or $0.86 per share, compared with a net loss of $0.5 million, or $0.05 per share, a year earlier. Analysts were expecting to see a loss of $0.78 per share.
At 1:01 p.m. ET, the stock had declined $1.14, or 8%, to $13.05. For detailed price information and recent news stories about Ardea Biosciences, click RDEA.
