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Avanir Pharmaceuticals Reports Fiscal 2013 Fourth Quarter Financial and Year-End Business Results
Date:12/10/2013

t loss for the quarter ended September 30, 2013 was $15.4 million, or $0.10 per share, excluding a one-time payment of $20.0 million related to AVP-825, compared with a net loss of $11.7 million, or $0.09 per share, for the same period in fiscal 2012.

Fiscal 2013 Twelve-Month Results

  • Total net revenues for fiscal 2013 were $75.4 million, compared with $41.3 million for fiscal 2012, representing 83% year-over-year growth.
  • Total operating expenses for fiscal 2013 were $126.8 million, excluding a one-time payment of $20.0 million related to AVP-825, compared to $99.7 million for fiscal 2012.
  • Cash used in operations for fiscal 2013 was $45.4 million, excluding the one-time payment of $20.0 million related to AVP-825.
  • Net loss for fiscal 2013 was $55.5 million, or $0.39 per share, excluding a one-time payment of $20.0 million related to AVP-825, compared with a net loss of $59.7 million, or $0.45 per share for fiscal 2012.
  • Cash, Cash Equivalents & Marketable Securities
    As of September 30, 2013 Avanir had cash, cash equivalents and restricted investments totaling $57.5 million, including cash and cash equivalents of $55.3 million.

    Quarter and Recent Business Highlights

  • Achieved 12% unit growth of NUEDEXTA representing the tenth consecutive quarter of double-digit growth.
  • Entered into an exclusive North American license agreement with Optinose AS, for the development and commercialization of a novel Breath Powered™ intranasal delivery system containing low-dose sumatriptan powder to treat acute migraine. If approved, this product would be the first and only fast-acting, dry-powder nasal delivery form of sumatriptan.
  • Entered into a multi-year agreement with Merck, known as MSD outside the United States and Canada, to co-promote Merck's type 2 diabetes therapies JANUVIA® (sitagliptin) and the sitagliptin family of products in the long-term care institutional setting i
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  • SOURCE Avanir Pharmaceuticals, Inc.
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