PDL BioPharma Inc. of Incline Village earned $37.5 million in the first quarter compared with a loss of $61.9 million in the same period a year earlier.
The publicly held company, which pioneered the humanization of monoclonal antibodies, receives a flow of royalties on its patented technology.
It reported first-quarter revenues of $62.6 million compared with $50.2 million a year earlier.
