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Avanir Pharmaceuticals Reports Fiscal 2011 Fourth Quarter and Year End Financial Results
Date:12/12/2011

ALISO VIEJO, Calif., Dec. 12, 2011 /PRNewswire/ -- Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today reported financial results for the three and twelve months ended September 30, 2011.

Quarterly Financial Highlights

  • Gross revenue for NUEDEXTA® of $4.3 million
  • Cash used in operations was $14.0 million
  • Cash, cash equivalents, and restricted investments of $81.8 million as of September 30, 2011
  •  

    "I am pleased with the foundation for commercial success that we established in fiscal and calendar 2011," said Keith A. Katkin, president and CEO of Avanir.  "I am excited about 2012 and look forward to further expanding the commercial success of NUEDEXTA while advancing clinical opportunities for AVP-923 with studies in central neuropathic pain due to multiple sclerosis and behavioral disturbances associated with Alzheimer's disease."

    Fiscal 2011 Fourth Quarter Results

  • Total net revenues for the quarter ended September 30, 2011 were $4.8 million, compared with $726,000 for the comparable quarter in 2010. Total net revenues consist of royalty revenue from Abreva® and NUEDEXTA revenue.
  • Total operating expenses were $22.5 million in the fourth quarter of fiscal 2011, compared with $9.5 million in the comparable period in fiscal 2010.
  • Cash used in operations was $14.0 million in the fourth quarter of fiscal 2011.
  • Net loss for the fiscal 2011 fourth quarter was $18.0 million, or $0.14 per share, compared with a net loss of $9.7 million, or $0.10 per share, for the same period in fiscal 2010.
  •  

    Twelve-Month Results

  • Total net revenue for fiscal 2011 totaled $10.5 million compared with $2.9 million for fiscal 2010.
  • Total operating expenses were $70.7 million in fiscal 2011 compared to $29.8 million in fiscal 2010.
  • Cash
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  • SOURCE Avanir Pharmaceuticals, Inc.
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