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ViroPharma Incorporated Reports Second Quarter 2012 Financial Results
Date:8/9/2012

EXTON, Pa., Aug. 9, 2012 /PRNewswire/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the second quarter ended June 30, 2012.

Since March 31, 2012, we:

  • Achieved $95 million in quarterly net product sales, including $77 million in worldwide net sales of Cinryze® (C1 esterase inhibitor [human]);
  • Received FDA approval of the Prior Approval Supplement (PAS) for industrial scale manufacturing for Cinryze;
  • Delivered positive cash flows from operations of $22 million during the second quarter;
  • Finished the quarter with cash, cash equivalents and short term investments of $472 million;
  • Recorded GAAP net loss of $4 million; attained non-GAAP adjusted net income of $7 million during the second quarter of 2012;
  • Repurchased an additional 1.1 million shares of our common stock at a cost of approximately $22 million during the second quarter;
  • Initiated a Phase 2 program to evaluate maribavir for the treatment of CMV infections in transplant recipients;
  • Announced that the FDA has placed a temporary clinical hold on development of Cinryze subcutaneous administration with Halozyme's rHuPH20 technology until further review;  and
  • Announced the FDA denial of the Vancocin Citizen Petition and subsequent introductions of generic oral vancomycin.

    • Net sales were $94.6 million for the second quarter ended June 30, 2012, as compared to $128.8 million in the comparative period of 2011. The decrease was the result of the impact of generic oral vancomycin entries into the market. Regarding Cinryze, the channel remained below normal levels from the end of the first quarter and as a result, the revenue reported is more reflective of demand.  The company anticipates that the levels of channel inventory will increase in the third and fourth quarters as additi
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    SOURCE ViroPharma Incorporated
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