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

used in operations was $56.5 million in fiscal 2011.
  • Net loss for fiscal 2011 was $60.6 million, or $0.51 per share, compared with a net loss of $26.7 million, or $0.30 per share for fiscal 2010.
  •  

    NUEDEXTA RevenueFor the quarter ended September 30, 2011, the company reported NUEDEXTA gross and net revenue of $4.3 million and $3.7 million respectively. Fourth quarter fiscal 2011 NUEDEXTA gross and net revenue increased 95% over the previous quarter. For Fiscal 2011, the company reported NUEDEXTA gross and net revenue of $7.0 million and $6.1 million respectively. NUEDEXTA revenue is recognized using a deferred revenue recognition model, meaning that NUEDEXTA capsule shipments to wholesalers are initially recorded as deferred revenue and later recognized as revenue when the product has left the distribution channel and is no longer subject to a right of return, effectively representing reported end-user prescriptions and non-retail shipments of NUEDEXTA capsules.

    Business HighlightsRecent highlights for the company include:

  • In October, the company announced that it had submitted an application to the European Medicines Agency (EMA) seeking marketing authorization for NUEDEXTA (dextromethorphan HBr and quinidine sulfate) for the treatment of pseudobulbar affect (PBA). Subsequently in November, the company announced that the EMA had accepted the filing of the Marketing Authorization Application (MAA) for NUEDEXTA for the treatment of PBA.
  • In November, the company announced that it had enrolled the first patient into the PRIME (Pain Research In Multiple sclErosis) study, an investigation of AVP-923 capsules for the treatment of central neuropathic pain in patients with multiple sclerosis.
  • Achieved record total NUEDEXTA prescriptions of 10,210 for the quarter ending September 30, 2011.
  •  

    Cash, Cash Equivalents & Marketable SecuritiesAs of September 30, 2011 Avanir h
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    SOURCE Avanir Pharmaceuticals, Inc.
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