Nelson Research Reports $2.4-Million Loss for 1985

Nelson Research & Development Co., an Irvine-based developer of pharmaceutical products, posted a loss of $2.4 million for 1985, compared with a $204,244 loss the previous year. The company’s revenues for the year were $3 million, down from $3.8 million in 1984.

For the fourth quarter, Nelson lost $850,659, compared with a loss of $372,203 for the last quarter of 1984. The company’s fourth-quarter revenues were $666,480, up 10% from $603,750.

Peter Upton, Nelson’s newly elected president and chief executive officer, said in a prepared statement that the company’s year-end financial results are “disappointing.” He added that “the year has involved a considerable amount of investment spending intended to position the company for long-term growth and profitability.” The expenditures financed a significant expansion of “professional staff and facilities, with a view to bringing its (Nelson’s) products much closer to marketability prior to licensing,” Upton said.