Share prices for AtheroGenics Inc. (NASDAQ: AGIX) rose 16 percent today to $1.30, thanks largely to the company’s recent second quarter 2007 results.According to the latest company statement, AtheroGenics recorded revenue of $30.3 million for the second quarter of 2007, an amazing $24 million increase over the same period for 206. The figures for the six-month period ending June 30, 2007, were also impressive, as the company reported that their revenues increased from $10.4 million last year to $41.7 million this year.

The company attributed both these increases to “the recognition of the remaining unamortized balance of an upfront license fee due to the termination of a license agreement with AstraZeneca,” where the amortization reached $20.8 million for the second quarter and $27.1 million for the six-month period.

Net loss for the company decreased, shrinking from $13.1 million to $6.1 million.

All of this shows a great deal of positive growth for the AtheroGenics, a pharmaceutical company “focused on the discovery, development and commercialization of novel drugs for the treatment of chronic inflammatory diseases” such as diabetes and coronary heart disease, according to the company’s press. The company is reportedly working in the ANDES Phase III clinical trial to study its lead anti-inflammatory drug, AGI-1067, in patients with diabetes.

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