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

Raptor Pharmaceutical Corp. Reports Financial Results For The Transition Period From September 1, 2012 To December 31, 2012

NOVATO, Calif., March 14, 2013 (GLOBE NEWSWIRE) -- Raptor Pharmaceutical Corp. ("Raptor" or the "Company") (Nasdaq:RPTP), today reported financial results for its four month transition period from September 1, 2012 to December 31, 2012.

Financial Results and Other Recent Highlights
  • Net loss for the four month transition period ended December 31, 2012 was $19.3 million or $0.37 per share.
  • Cash, cash equivalents and short-term investments ("Cash") as of December 31, 2012 were $58.4 million.
  • As previously announced, on December 20, 2012, the Company signed a $50 million loan agreement with HealthCare Royalty Partners ("HCR") and received $23.4 million, net of fees and commissions, from the first tranche.
  • Management estimates that the Company's Cash as of December 31, 2012 of $58.4 million (including the first tranche of cash received from the loan agreement with HCR) will fund the Company into the fourth quarter of calendar 2013.
  • As previously announced, on December 21, 2012, the Company received a notice from the U.S. Food and Drug Administration ("FDA") in which the FDA required additional time to complete its review of Raptor's New Drug Application ("NDA") for RP103 for the potential treatment of nephropathic cystinosis ("cystinosis") and extended the initial Prescription Drug User Fee Act ("PDUFA") goal date from January 30, 2013 to April 30, 2013. No new studies were requested by the FDA.

"We have made great progress in advancing the development of RP103 and securing financial resources for the potential U.S. commercial launch of RP103," said Christopher M. Starr, Ph.D., Raptor's Chief Executive Officer.  "In particular, in December we secured a $50 million loan facility which enables us to execute pre-launch initiatives and to build commercial infrastructure in anticipation of potential approvals of RP103 for the treatment of cystinosis from the FDA and the European Medicines Agency ("EMA"). The second tranche of the loan which is conditioned on our receipt of FDA approval for RP103 for the treatment of cystinosis, will further support our launch activities."

1 of 3

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 $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs