Javelin Pharmaceuticals, Inc. Reports First Quarter 2010 Results
Javelin Pharmaceuticals, Inc. (NYSE Amex: JAV - News), a leading developer of novel acute care pain products, today reported its unaudited financial results for the first quarter ended March 31, 2010.
Highlights for the three months ended March 31, 2010:
For the three months ended March 31, 2010, we recorded $0.3 million in amortization of partner milestone payments compared to $0.2 million for the similar period a year ago. For the three months ended March 31, 2009, partner revenue also included approximately $1.7 million in product sale to Therabel.For the three months ended March 31, 2010, our cost of revenue was approximately $0.1 million, compared to $1.9 million for the same period a year ago. Our cost of revenue for the period ended March 31, 2010 is primarily attributable to our portion of royalties that were payable to third parties for sales recorded by Therabel. Research and development expenses for the three months ended March 31, 2010, were $3.9 million compared to $11.8 million for the same period in 2009. Total research and development expense for the quarter decreased to $6.5 million from $16.9 million for the similar period a year ago, primarily attributable to reductions in clinical trial expenses for Dyloject and Ereska.
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