Dyax Corp. (NASDAQ: DYAX) today announced financial results for the second quarter ended June 30, 2012. Dyax will host a webcast and conference call at 5:00 p.m. (ET) today to review financial results and provide updates regarding its key value drivers – the KALBITOR ® (ecallantide) business and angioedema franchise, as well as the Licensing and Funded Research Program (LFRP).
Highlights of the second quarter 2012 include:
- KALBITOR net sales increased to $9.2 million, a 14% increase over first quarter 2012;
- 518 patients have treated with KALBITOR, up 12% from the previous quarter;
- Operating cash burn in the second quarter was reduced to $7.0 million, down from $8.5 million in the prior quarter; and
- Cash, cash equivalents and investments at June 30, 2012 totaled approximately $38.6 million.
“During the second quarter of 2012, our financial results were driven by the strong performance of our KALBITOR business,” stated Gustav Christensen, President and Chief Executive Officer of Dyax. “We have made significant strides in providing the HAE community with a comprehensive set of support and service programs. We are carrying this momentum into developing the angioedema franchise with a goal to ultimately diagnose and treat a broader set of plasma kallikrein (bradykinin) mediated angioedemas. Additionally, the Licensing and Funded Research Program continues to be an important near- and long-term driver of growth for Dyax.”
2012 Second Quarter Financial ResultsTotal revenues for the second quarter ended June 30, 2012 were $14.0 million, as compared to $21.9 million for the comparable quarter in 2011. Included in the 2012 revenues were $9.2 million of KALBITOR net sales, as compared to $5.2 million for 2011. The 2011 quarter revenues included $10.7 million of revenue associated with an expanded partnership with Sigma-Tau. Total revenues for the six months ended June 30, 2012 were $25.5 million compared to $30.1 million for the comparable period in 2011, and included $17.2 million and $9.3 million of KALBITOR net sales in 2012 and 2011, respectively.
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
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
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
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