York County-based Unilife Corp. is still posting significant net losses but is nonetheless ramping up its R&D investment and manufacturing capability, CEO Alan Shortall told investors Monday.
"We have commenced the installation of new clean rooms at our facility in York, PA," Shortall said. "These new clean rooms will be completed in a few months and ensure that all production space within the footprint of our 165,000 square foot facility is in full operation."
On questioning, Shortall said some of the expected use for the expanded capacity is for "deals that we know are coming but haven't yet made public."
"We're not focused on the next quarter or the next quarter," Shortall said, telling investors Unilife is positioning itself for strength over 15 to 20 years.
Unilife posted a net loss of $16.3 million for the second quarter of its 2014 fiscal year, up from $14.6 million the previous year. The quarter ended Dec. 31, 2013, and revenue for the period was also up, at $3.6 million compared to $700,000 the previous year.
"This has been a strong quarter for Unilife, in which momentum continues to build," Shortall said. He referenced a number of deals signed in the past few months with pharmaceutical companies, including Novartis, MedImmune and Hikma: "Milestone payments and revenue are increasing as a result of our execution of these and other customer programs. I expect this pace to continue as additional contracts progressively emerge from our large, expanding commercial pipeline."