Syntro Corp. Posts a $1.4-Million Loss

Citing a drop-off of contract research revenues, Syntro Corp. reported deeper losses and lower revenues for the third quarter and nine months ended June 30. Syntro said the third-quarter loss was $1.4 million on revenues of $660,087, contrasted with a profit of $6,978 on revenues of $1.7 million over the same quarter last eyar.

The year-to-date loss now stands at $3.2 million with revenues of $2.6 million, compared with a net loss of $720,964 on revenues of $3.8 million for the comparable nine months last year. Syntro is a San Diego biotechnology company trying to develop veterinary vaccines,

With $17 million cash in the bank and little debt, Syntro indicated that there is little short-term danger of the company going insolvent. However, the company has pushed back the expected introduction of its first product, a pseudorabies vaccine for swine, to first quarter 1988 from the August, 1987, target date mentioned at the company’s annual meeting in February. The company still has not received USDA approval to sell the vaccine.