One-Time Credit Boosts Trimeris Earnings

Morrisville, N.C. — Biopharmaceutical firm Trimeris (Nasdaq: TRMS), boosted by a one-time credit from its drug partner Roche, reported a $9.1 million profit for the fourth quarter ending Dec. 31.

In its earnings announcement Thursday, Trimeris said profits reached $9.1 million, or 21 cents per share. Of that amount was some $5 million it negotiated with Roche for past expenses related to the manufacture and sale of the HIV drug Fuzeon.

Roche manufactures and distributes Fuzeon for Trimeris.

The company also reported lower operating costs due to reduced headcount and cuts in research and development.

Without the one-time credit, Trimeris reported a profit of $4.1 million compared to $8.1 million for the same time period in 2006. Higher costs and lower sales of Fuzeon in North American markets cut into the firm’s profits. Revenue was some $12.5 million, slightly less than a year earlier.