Maxygen reports earnings of $80 million for Q3 2008

SAN FRANCISCO Maxygen earned a profit of almost $80 million for third quarter 2008, the company reported.

The biotech sold its drugs for hemophilia to Bayer HealthCare this summer, for which Bayer paid $90.3 million, bring Maxygen’s profits to $79.9 million.

The company’s total revenue for third quarter 2007 was $1 million.

The company develops drugs for autoimmune disorders.