This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Trimeris Reports Financial Results For The First Quarter 2011

Trimeris, Inc., (NASDAQ: TRMS) today reported first quarter 2011 financial results. Net loss for the quarter ended March 31, 2011 was $67,000 or $0.00 per share compared with net income of $988,000, or $0.04 per share for the quarter ended March 31, 2010. The Company reported adjusted net income for the quarter ended March 31, 2011 of $269,000 compared to adjusted net loss for the quarter ended March 31, 2010 of $68,000.

Comparisons of net income between the quarters ended March 31, 2011 and March 31, 2010 are affected by several items detailed in the section below entitled “Adjusted (Non-GAAP) Financial Information.”

Cash Position

As of March 31, 2011, cash, cash equivalents and investment securities totaled $47.3 million compared to $45.2 million as of December 31, 2010.

Collaboration Income

Collaboration income from our collaboration with F. Hoffman-LaRoche, Ltd. (“Roche”) for the quarter ended March 31, 2011 was $1.3 million compared with $1.2 million for the quarter ended March 31, 2010. Net sales of FUZEON in the U.S. and Canada for the first quarter of 2011 declined seven percent to $6.7 million, from $7.2 million for the same period in 2010. This net sales decline was completely offset by reduced selling and marketing expenses and cost of goods sold.

Royalty Revenue

Royalty revenue from Roche for the quarter ended March 31, 2011 was $262,000 compared with $1.9 million for the same period in 2010. This decrease was primarily driven by lower sales outside the U.S. and Canada (“ROW”) and the reduction of the royalty rate from 12% to 6% for ROW sales imposed by Roche and described in more detail below.

ROW net sales of FUZEON for the first quarter of 2011 were $5.2 million, down 70 percent from $17.2 million for the same period in 2010. A significant portion of this decline in net sales resulted from the variability in quarterly buying patterns of specific countries that either did not purchase during the quarter (Brazil) or purchased significantly reduced quantities (Mexico and Romania).

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs