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Avanir Pharmaceuticals Reports Fiscal 2013 Third Quarter Financial and Business Results
Date:8/6/2013

ALISO VIEJO, Calif., Aug. 6, 2013 /PRNewswire/ -- Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today reported financial results for the three and nine-months ended June 30, 2013.

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Quarterly Financial Highlights

  • Total company net revenues of $19.8 million
  • Gross and net NUEDEXTA® sales increased to $24.3 million and $19.0 million, respectively, representing growth of 17% and 15% versus the previous quarter
  • Cash, cash equivalents, and restricted investments of $57.5 million as of June 30, 2013.
  • "Avanir continues to strengthen its position as a leading specialty biopharmaceutical company," said Keith A. Katkin, president and CEO of Avanir.  "With the NUEDEXTA franchise performing well in the U.S., a recent approval in Europe, meaningful progress with our pipeline assets and the in-licensing of an NDA-ready asset, AVP-825; we look forward to delivering on a number of exciting and potentially value-creating milestones in the coming months."

    Fiscal 2013 Third Quarter Results

  • Total net revenues for the quarter ended June 30, 2013 were $19.8 million, compared with $10.5 million for the comparable quarter in fiscal 2012, representing 87% year-over-year growth. Total net revenues consist of NUEDEXTA net revenue and royalty revenue from Abreva®.
  • Total operating expenses were $30.2 million in the third quarter of fiscal 2013, compared with $25.3 million in the comparable period in fiscal 2012.
  • Cash used in operations was $13.0 million, including a one-time milestone payment of $2 million related to AVP-786.
  • Net loss for the fiscal 2013 third quarter was $11.4 million, or $0.08 per share, compared with a net loss of $15.0 million, or $0.11 per share, f
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  • SOURCE Avanir Pharmaceuticals, Inc.
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