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The Boston Globe

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Boston.com

Aveo reports financial results

By Chris Reidy

 |  Globe Staff  

  February 14, 2012

Aveo Pharmaceuticals Inc., a Cambridge company developing potential cancer drugs, reported total 2011 collaboration revenues of $164.8 million, compared with $44.7 million for 2010. According to Aveo, net income for 2011 was $30.6 million, or basic and diluted earnings per share of $0.77 and $0.74, respectively, compared with a net loss of $58.8 million, or basic and diluted loss per share of $2.30 for 2010. Research and development expense for 2011 was $101.7 million, compared with $86.3 million for 2010.

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