This Day On The Street
Continue to site
ADVERTISEMENT
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

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

Research and development expenses were $8.6 million for the quarter ended December 31, 2012, compared to $8.4 million for the same period in 2011. Research and development expenses were $25.2 million for the year ended December 31, 2012, compared to $24.4 million for the same period in 2011. The increase in research and development expenses in the fourth quarter and full year of 2012 over the comparable periods in 2011 was primarily related to increased headcount required to support the Company's regulatory and medical affairs activities, as well as costs for production validation runs, partially offset by decreases in clinical trial expenses related to trials which had been substantially completed in 2011.

Selling, general and administrative expenses were $13.1 million for the quarter ended December 31, 2012, compared to $4.3 million for the same period in 2011. Selling, general and administrative expenses were $34.1 million for the year ended December 31, 2012, compared to $14.0 million for the same period in 2011. The increases in selling, general and administrative expenses in the fourth-quarter and full-year 2012 over the comparable periods in 2011 were primarily related to costs of increased headcount to support the planned commercial launch of JUXTAPID and in administrative functions.

Cash, cash equivalents and marketable securities totaled $82.2 million as of December 31, 2012, compared to $73.2 million as of December 31, 2011.

Financial Guidance

Aegerion expects total operating expenses, excluding stock-based compensation expense, to be between $75 and $85 million in 2013. In addition, Aegerion confirmed the following previously stated financial guidance:

  • Aegerion expects global net revenues of $15 million to $25 million for FY 2013 with 250 to 300 patients on JUXTAPID therapy globally by year-end 2013.
  • In the second half of 2014, the Company expects to:
  • generate global net revenue at a $100 million annualized run rate; and
  • achieve cash flow breakeven from operations.

Conference Call Details

Aegerion will hold a conference call to discuss its financial results, business highlights and outlook today, Wednesday, March 6, 2013 at 8:30 a.m. EST. In addition, the Company will answer questions concerning business and financial developments and trends, and other matters affecting the Company, some of the responses to which may contain information that has not been previously disclosed.

2 of 6

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
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs