Research and development costs -- including the expense of continuing clinical trials of its promising anti-cancer drug PI-88 -- have seen Brisbane drug-development company Progen Industries (ASX:PGL, NASDAQ:PGLAF) post a net operating loss of AUD$7.8 million to June 30. [ + ]

Melbourne-based drug-discovery company Biota Holdings Ltd (ASX:BTA) has reported a AUD$10.3 million loss for the year to June 30, but much of the loss was due to $9.8 million in expenses incurred by its new US subsidiary Biota Inc during its first full year of operation. [ + ]

AGT Biosciences (ASX:AGT) has presented data on a new gene linked to obesity at the International Diabetes Federation Conference in Paris. [ + ]

Antisense Therapeutics has initiated its first Phase I clinical trial for antisense inhibitor ATL1102, which is being trialled as a treatment for multiple sclerosis. [ + ]

Hundreds of Australians have endured misery and debilitating arthritic pain in the joints after being infected by mosquito-borne Ross River Virus. The symptoms can last for months, and recovered patients can relapse years later. [ + ]

Meditech Research (ASX:MRL) has announced its half-year results, reporting a decreased loss of AUD$1.06 million after tax compared to the same period last year. [ + ]

Investment bank Peregrine Corporate has upped its stake in Prima BioMed to around 14 per cent on the back of a AUD$7.2 million share placement of 11.62 million ordinary shares. [ + ]

Artificial heart company Ventracor (ASX:VCR) has taken advantage of its market popularity to raise AUD$33.75 million in an unexpected placement to institutional and sophisticated investors in Australia, Europe and Asia. [ + ]

Shares in AGT Biosciences (ASX:AGT) soared more than 72 per cent to close at AUD$0.62 on Monday after a new study showed one of its licensed target genes was strongly linked to the development of insulin resistance. [ + ]

Compumedics CEO David Burton has received an Entrepreneur of the Year award from global accounting firm Ernst and Young. [ + ]

Former Sirtex Medical CEO Dr Colin Sutton has joined the board of Gradipore as a non-executive director. [ + ]

Prof Jennifer Marshall Graves' long-awaited Kangaroo Genome Project is up and hopping after last week's federal government announcement of funding for six new Australian Research Council Centres. [ + ]

In a dramatic turnaround from last year's $14.4 million loss, Amrad (ASX:AML) has posted an inaugural after-tax profit of AUD$7.4 million for the 2002-2003 financial year, which includes $1.2 million operating profit in addition to the one-off profit realised from the sale of Amrad's Richmond property. [ + ]

Metabolic Pharmaceuticals (ASX:MBP) is today heralding a recently finalised exercise of listed options had brought the company AUD$12 million. [ + ]

EpiTan (ASX:EPT) has raised nearly AUD$7.4 million in a share placement of 14.5 million shares priced at $0.51, providing cash reserves to see the company through to the end of 2004. [ + ]