Repligen Corporation (Nasdaq: RGEN) today reported results for the second quarter of fiscal year 2010, ended September 30, 2009. Total revenue for the quarter was $5,421,000 compared to total revenue of $5,090,000 for the second quarter of fiscal year 2009 ended September 30, 2008. Total revenue for the second quarter of fiscal year 2010 was comprised of Protein A product revenue of $2,742,000 and royalty and research revenue of $2,679,000, consisting primarily of royalty payments from Bristol-Myers Squibb on the U.S. sales of Orencia(®).
Operating expenses for the second quarter of fiscal year 2010 were $6,627,000 compared to $5,414,000 for the same time period in fiscal year 2009. This increase in operating expenses of $1,213,000 was primarily the result of increased spending associated with our Phase 3 clinical trial of RG1068 for pancreatic imaging, our Phase 2b clinical trial of RG2417 for bipolar depression, and increased research and development costs associated with our efforts to identify a clinical candidate for Friedreich's ataxia. Selling, general and administrative expenses have also increased $359,000 due to expanded business development activities compared to the prior year.
Net loss for the second quarter of fiscal year 2010 was $980,000 or $0.03 per diluted share, compared to a net gain for the second quarter of fiscal year 2009 of $142,000 or $0.00 per diluted share. Cash, cash equivalents and marketable securities as of September 30, 2009 were $60,224,000 compared to $63,961,000 as of March 31, 2009.