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

s (Non-GAAP)

$36.2Cash used in operations (GAAP)

$30.1AVP-825 license payment

(20.0)Cash used in operations (Non-GAAP)

$10.1Net loss (GAAP)

$35.4AVP-825 license payment

(20.0)

Net loss (Non-GAAP)

$15.4

Basic and diluted net loss per share (GAAP)

$(0.24)Less: Impact on net loss per share from AVP-825 license payment

0.14Basic and diluted net loss per share (Non-GAAP)

$(0.10)GAAP Reconciliation (in millions)Fiscal 2013 Twelve-Month Results:Total operating expenses (GAAP)

$146.8AVP-825 license payment

(20.0)Total operating expenses (Non-GAAP)

$126.8Cash used in operations (GAAP)

$65.4AVP-825 license payment

(20.0)Cash used in operations (Non-GAAP)

$45.4Net loss (GAAP)

$75.5AVP-825 license payment

(20.0)Net loss (Non-GAAP)

$55.5Basic and diluted net loss per share (GAAP)

$(0.53)Less: Impact on net loss per share from AVP-825 license payment

0.14Basic and diluted net loss per share (Non-GAAP)

$(0.39)About AVP-825
AVP-825 is an investigational drug-device combination product consisting of low-dose sumatriptan powder delivered intranasally utilizing a novel breath-powered delivery technology. If approved, AVP-825 would be the first and only fast-acting, dry-powder intranasal form of sumatriptan for the treatment of migraine.

About AVP-923
AVP-923 is a combination of two well-characterized compounds, the active CNS ingredient dextromethorphan hydrobromide (an uncompetitive NMDA receptor antagonist and sigma-1 receptor agonist) plus low-dose quinidine sulfate (a CYP2D6 enzyme inhibitor), which serves to increase the bioavailability of dextromethorphan. Several dose strengths of AVP-923 are being studied in multiple ongoing clinical trials including agitation in Alzheimer's
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SOURCE Avanir Pharmaceuticals, Inc.
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