Amylin Pharmaceuticals' Revenue Surges to $15.4 Million

Amylin Pharmaceuticals(AMLN Quote - Cramer on AMLN - Stock Picks) saw revenue surge tenfold in the third quarter, but increased expenses resulted in a wider per-share loss year over year, the company said.

The San Diego company, which makes drugs to treat metabolic disorders, registered a loss of $37.5 million, or 40 cents a share, compared to a loss of $31.3 million, or 39 cents a share, in 2002.

Analysts polled by Thomson First Call were expecting a loss of 40 cents a share on revenue of $16.04 million.

Revenue under the company's collaborative agreement with Eli Lilly(LLY Quote - Cramer on LLY - Stock Picks) was $15.4 million, compared to $1.5 million a year ago. Amylin and Lilly are co-developing a drug to treat diabetes.

Research and development expenses increased to $40.9 million from $25.8 million, while SG&A rose to $14.9 million from $6.2 million. The increases reflected the cost of a larger workforce, increased medical education and other prelaunch expenses for Symlin, an anti-diabetes drug.

In midday trading, shares of Amylin were up $1.18, or 4%, to $28.09.