Operating expenses were $34.7 million in the quarter ended June 30, 2008 as compared to $17.5 million in the quarter ended June 30, 2007. The increase in operating expenses was primarily attributable to the expensing of in-process research and development arising from the acquisition of assets from ACI, an increase in sales and marketing costs as a result of the expansion of the Company's sales forces in the United States and Europe in early fiscal 2008, expansion of the Company's clinical education programs, and additional higher employee-related expenses.
Net loss per share applicable to common stockholders decreased to $0.43 for the quarter ended June 30, 2008 as compared to $1.20 for the quarter ended June 30, 2007, due primarily to the increase in the shares outstanding as a result of the sale of 11.5 million shares of common stock in the Company's November 2007 initial public offering and the conversion of 30.4 million shares of preferred stock into common stock concurrent with this public offering.
Fiscal Year 2009 Guidance:
BioForm Medical is providing the following financial guidance for the
full fiscal year ended June 30, 2009:
-- Revenues are expected to be approximately $74 to $78 million.
-- Gross profit is expected to average approximately 81% to 83% as a
percentage of sales on an annual basis, with some possible fluctuation
outside of this range on a quarterly basis.
-- Operating expenses are expected to be approximately $84 to $86 million.
-- Net loss is expected to be approximately $20 to $23 million.
Product Pipeline Update:
BioForm Medical is providing the following update on its product pipeline:
-- RADIESSE(R) Dermal Filler Next-Generation Products: The Company has a
|SOURCE BioForm Medical, Inc.|
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