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Avanir Pharmaceuticals Pre-announces Preliminary Fiscal 2014 First Quarter Financial Information
Date:1/13/2014

ALISO VIEJO, Calif., Jan. 13, 2014 /PRNewswire/ -- Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today announced preliminary financial information (unaudited) for the quarter-ended December 31, 2013, in anticipation of the company's attendance at the J.P. Morgan 32nd Annual Healthcare Conference.

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Based on preliminary financial information (unaudited) for the quarter-ended December 31, 2013, Avanir estimates:

  • Total gross revenues of approximately $34.6 million (Non-GAAP)
  • Gross product revenue for NUEDEXTA® of approximately $31.3 million (Non-GAAP), representing an increase of approximately 13% versus the quarter ended September 30, 2013
  • NUEDEXTA gross-to-net discount in the range of approximately 24-26%
  • NUEDEXTA net product revenue growth of approximately 15-18% sequentially over the previous quarter
  • Cash used in operations of approximately $9.5 million
  • Cash, cash equivalents and investments in securities totaling approximately $46.5 million, including cash and cash equivalents of approximately $43.9 million and restricted investments in securities of approximately $2.6 million

About NUEDEXTA
NUEDEXTA is an innovative combination of two well-characterized components; dextromethorphan hydrobromide (20 mg), the ingredient active in the central nervous system, and quinidine sulfate (10 mg), a metabolic inhibitor enabling therapeutic dextromethorphan concentrations. NUEDEXTA acts on sigma-1 and NMDA receptors in the brain, although the mechanism by which NUEDEXTA exerts therapeutic effects in patients with PBA is unknown.

NUEDEXTA Important Safety Information
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SOURCE Avanir Pharmaceuticals, Inc.
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