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Avanir Pharmaceuticals Reports Fiscal 2013 Second Quarter Financial and Business Results
Date:5/8/2013

arter was $16.5 million, or $0.12 per share, compared with a net loss of $17.0 million, or $0.13 per share, for the same period in fiscal 2012.

Fiscal 2013 Six-Month Results

  • Total net revenues for the first six-months of fiscal 2013 totaled $34.0 million, compared with $17.2 million for the first six months of fiscal 2012.
  • Total operating expenses, excluding cost of sales and share-based compensation were $55.4 million in the first six-months of fiscal 2013, compared to $47.0 million in the comparable period for fiscal 2012.
  • Cash used in operations was $22.3 million in the first six months of fiscal 2013.
  • Net loss for the first six-months of fiscal 2013 was $28.6 million, or $0.21 per share, compared with a net loss of $33.0 million, or $0.25 per share for the comparable period in fiscal 2012.
  • NUEDEXTA Revenue
    For the quarter ended March 31, 2013, the company reported NUEDEXTA gross and net revenue of $20.8 million and $16.5 million respectively. Second quarter fiscal 2013 NUEDEXTA net revenue increased 81% versus the previous year and 11% over the previous quarter.

    Cash, Cash Equivalents & Marketable Securities
    As of March 31, 2013 Avanir had cash, cash equivalents and restricted investments totaling $70.2 million, including cash and cash equivalents of $67.9 million.

    Business Highlights

  • The company reported an eighth consecutive quarter of NUEDEXTA unit growth in both business channels with 13% retail and 4% institutional growth.
  • The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion for NUEDEXTA, recommending it be approved in two dosage strengths for the treatment of pseudobulbar affect (PBA), irrespective of neurologic cause.
  • The company appointed Corinne Nevinny, a seasoned life sciences executive with broad healthcare industry experience, to the company's board of directors.
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    SOURCE Avanir Pharmaceuticals, Inc.
    Copyright©2012 PR Newswire.
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