CAMBRIDGE, Mass., March 2, 2011 (GLOBE NEWSWIRE) -- Aegerion Pharmaceuticals, Inc. (Nasdaq:AEGR), an emerging biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat severe lipid disorders, announced its financial results and business highlights for the fourth-quarter and year ended December 31, 2010.
Financial Results and Outlook
For the quarter ended December 31, 2010, Aegerion reported a net loss of $12.1 million, or $0.92 per share attributable to common stockholders. For the year ended December 31, 2010, Aegerion reported a net loss of $23.0 million, or $5.07 per share attributable to common stockholders.Research and development expenses were $4.0 million for the quarter ended December 31, 2010, compared to $2.0 million for the same period in 2009. For the year ended December 31, 2010, research and development expenses were $7.6 million, compared with $7.0 million for the full year 2009. Research and development expenses for both the quarter and the full year were primarily related to the advancement of the Phase III clinical trial for our lead compound, lomitapide. General and administrative expenses were $2.7 million for the quarter ended December 31, 2010, compared with $0.9 million for the same period in 2009. For the year ended December 31, 2010, general and administrative expenses were $5.9 million, compared with $3.1 million for the full year 2009. This increase was primarily due to increased consulting expenses and outside services relating to late-stage clinical development and public company expenses. As of December 31, 2010, Aegerion had cash and cash equivalents totaling approximately $44.1 million. Aegerion expects full-year 2011 cash burn to be between $22.5 and $27.5 million. This forecast spending level in 2011 anticipates full resourcing to achieve regulatory filing targets in a high quality and timely fashion. Included in this spending level are the one-time pre-clinical and clinical studies necessary to support these filings as well as the near-term pre-commercial resourcing needed to support an optimized launch of lomitapide targeted for 2012.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV