Aegerion Pharmaceuticals Announces Fourth-Quarter And Year-End 2012 Financial Results

CAMBRIDGE, Mass., March 6, 2013 (GLOBE NEWSWIRE) -- Aegerion Pharmaceuticals, Inc. (Nasdaq:AEGR), a biopharmaceutical company dedicated to the development and commercialization of innovative, life-altering therapies for patients with debilitating, often fatal rare diseases, announced its financial results and business highlights for the fourth-quarter and year-ended December 31, 2012.

As the company previously announced, JUXTAPID was approved by the U.S. Food and Drug Administration (FDA) in December 2012 as an adjunct to a low-fat diet and other lipid-lowering treatments, including LDL apheresis where available, to reduce low-density lipoprotein cholesterol (LDL-C), total cholesterol (TC), apolipoprotein B (apo B) and non-high-density-lipoprotein cholesterol (non-HDL) in patients with HoFH.

"2012 was an important year for Aegerion, and more importantly, for HoFH patients," said Marc D. Beer, Chief Executive Officer. "Following FDA approval, we are focused on strong commercial execution. We are very pleased with the early acceptance of JUXTAPID with over 400 REMS trained physicians and 85 prescriptions globally to date. The initial ramp of our commercial launch is on track to achieve our previously stated guidance of 250-300 patients globally on therapy by the end of 2013."

"The work needed to achieve our commitment to bring this important therapy to HoFH patients globally continues. We expect a mid-year decision on JUXTAPID in the European Union, and are simultaneously driving our development activities in the pediatric and Japanese HoFH patient populations with planned or ongoing nonclinical and clinical studies. In addition, we are building infrastructure in key markets that allow for sales of JUXTAPID on a named patient sales basis following FDA approval. We are executing on our plan to deliver JUXTAPID to HoFH patients in need."

Financial Results

For the fourth-quarter ended December 31, 2012, net loss was $21.8 million, or $0.86 per share, compared with a net loss of $13.9 million, or $0.66 per share, for the same period in 2011. For the year-ended December 31, 2012, net loss was $62.3 million, or $2.64 per share, compared with a net loss of $39.5 million, or $2.03 per share, for the same period in 2011.

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