Auxilium Pharma 4Q Loss Narrows On Testim Sales
From Associated Press (February 17, 2010)
MALVERN, Pa. -- Biotechnology company Auxilium Pharmaceuticals Inc. said Wednesday its fourth-quarter loss narrowed slightly as higher sales of the hormonal condition drug Testim outweighed a boost in costs.
The company lost $11.9 million, or 25 cents per share, compared with a loss of $12.1 million, or 29 cents per share, during the year-earlier period. Revenue rose 38 percent to $48 million from $34.8 million.
Analysts polled by Thomson Reuters expected a loss of 31 cents per share on revenue of $44.3 million.
Sales of Testim, which treats the hormonal condition hypogonadism, rose 24 percent to $42.3 million in the U.S., and the company received $4.9 million in revenue from sales outside the U.S. Hypogonadism impairs the function of the ovaries or testes.
Costs rose 28 percent to $60.5 million as the company prepared to market Xiaflex, which was approved by the Food and Drug Administration Feb. 2. The drug treats Dupuytren’s contracture, a condition where fingers and the palm of the hand thicken and shorten, causing fingers to curve inward.
For the full year, the company lost $53.5 million, or $1.22 per share, compared with a loss of $46.3 million, or $1.12 per share, in 2008. Revenue rose to $164 million from $125.4 million.
Looking ahead, the company expects Testim sales in 2010 between $185 million to $195 million.
Analysts expect overall revenue of about $233.6 million.
In morning trading, shares of Auxilium Pharmaceuticals rose $1.49, or 4.7 percent, to $33.19.
Posted: February 2010