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Earnings were reduced largely because of an extraordinary $8.6 million research and development charge.
The results included a $186 million in-process research and development charge at its Delta and Pine Land cotton business.
The nonrecurring charges for the quarter included a write-down of equity investments of $49 million, a restructuring charge of $4 million and a research and development charge of $4 million.
$181 Million Loss for OSI OSI Pharmaceuticals Nasdaqq: OSIP) of Melville has taken a research and development charge of $31.5 million in connection with its acquisition of Cell Pathways in June, contributing to a net loss for the fiscal year of $181.4 million, the company said Monday.
And to that point, EdSurge reported that the startup recently hired Eric Berger, the former VP of Engineering at Junyo, to lead the development charge.
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It will try nevertheless to encourage apartment construction through real estate tax reductions and rebates for things like development charges.
The city also eliminated development charges of up to $15,000 for new accessory dwelling units to spur homeowners to build.
Sun said it believed that the Cobalt acquisition would be accretive, meaning that it would add to earnings before interest, taxes, depreciation and amortization, gains on the sale of equity investments and research and development charges for the second half of this fiscal year.
"The big shift for Portland came not after several rounds of relaxing the requirements, though that certainly helped, but when we began waiving our systems development charges, which can increase the cost of a building permit by $10,000 to $15,000 for an ADU," said Morgan Tracy, a project manager with the Portland Bureau of Planning and Sustainability.
Reported results included research and development charges totaling 29 cents per share associated with the acquisitions of Hypnion and Ivy Animal Health.
Because of heavy research and development charges, Lilly said that its earnings dropped to $663.6 million, or 61 cents per share, from $822 million, or 76 cents per share, for the year-ago period.
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