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AVANIR Pharmaceuticals Announces Fiscal 2011 First Quarter Financial Results
Date:2/3/2011

treatment for PBA.
  • Announced that NUEDEXTA is now available by prescription at retail pharmacies in the United States and the AVANIR sales force will initiate physician promotional activity on February 7, 2011.

  • COMPANY OPERATIONS UPDATE

    • The Company has completed the recruitment of the NUEDEXTA commercial team with 75 sales representatives, 7 sales managers, 9 managed care account managers and a director of trade relations.
    • Announced that the Wholesale Acquisition Cost (WAC) of NUEDEXTA is $489 per month of therapy.
    • Announced a suite of patient support services, including a reimbursement counseling hotline and a co-pay assistance program for NUEDEXTA.
    • Completed a public offering of the Company's common stock on November 22, 2010, raising $83.0 million in net proceeds to fund the launch of NUEDEXTA and ongoing company operations.

    BALANCE SHEET HIGHLIGHTS

    As of December 31, 2010, AVANIR had cash, cash equivalents and investments in securities totaling $119.0 million, including cash and cash equivalents of $117.7 million and restricted investments in securities of $1.3 million.

    Conference Call and Webcast

    Management will host a conference call with a simultaneous webcast today beginning at 9:00 a.m. Eastern Time / 6:00 a.m. Pacific Time to discuss its financial results and recent business developments. The call will feature Keith Katkin, President and Chief Executive Officer; Randall Kaye, MD, Senior Vice President and Chief Medical Officer; and Christine Ocampo, Vice President of Finance to discuss financial results and answer questions. Investors are invited to listen to the live webcast by visiting AVANIR's corporate website at www.avanir.com.

    An archived copy of the webcast will be available on AVANIR's website for 30 days, and a telephone replay will be available through February 8, 201
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    SOURCE AVANIR Pharmaceuticals, Inc.
    Copyright©2010 PR Newswire.
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