This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Flamel Technologies Announces First Quarter 2012 Results

Stocks in this article: FLML

Flamel Technologies (NASDAQ: FLML) today announced its financial results for the first quarter of 2012.

Highlights for the quarter and subsequent time include:

  • Total revenues of $7.3 million versus total revenues of $6.8 million in the year-ago period
  • Continuing to maintain a strong balance sheet with $21.3 million of cash and marketable securities as of March 31 st, 2012
  • Announcing the acquisition of Éclat Pharmaceuticals, and moving forward with the integration of this strategic initiative
  • Remaining on track to file the Company’s first New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) in 2012

Flamel’s First Quarter Results

Flamel reported total revenues for the first quarter 2012 of $7.3 million versus total revenues of $6.8 million in the year-ago period. The growth was driven by increased production of Coreg CR microparticles. License and research revenues were $2.1 million during the first quarter of 2012, versus $3.2 million in the first quarter of 2011. Product sales and services during the first quarter of 2012 were $3.4 million versus $1.6 million during the year-ago quarter. Other revenues, consisting primarily of royalty income from GSK on the sales of Coreg CR, were $1.9 million, a slight decrease compared to the first quarter of 2011.

Total costs and expenses during the first quarter of 2012 increased to $12.1 million versus $11.7 million in the year-ago period. Costs of goods and services sold for the first quarter of 2012 were $1.3 million, a slight decrease from $1.4 million in the first quarter of 2011. Research and development costs in the first quarter of 2012 totaled $5.7 million versus $7.8 million in the year-ago period. This decrease is due to timing year on year of our clinical and pre-clinical program. Selling, general, and administrative costs were $5.1 million in the first quarter of 2012 versus $2.5 million in the first quarter of 2011. The costs associated with the acquisition of Éclat Pharmaceuticals amounted to $0.7 million, and we have incurred severance costs totaling $1.4 million.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs