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

Dyax Corp. Announces Second Quarter 2013 Financial Results

Stocks in this article: DYAX

Dyax Corp. (NASDAQ: DYAX) today announced financial results for the second quarter ended June 30, 2013. 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, DX-2930 and the Licensing and Funded Research Program (LFRP).

Recent highlights include:

  • KALBITOR ® net sales in the second quarter 2013 were $8.6 million;
  • KALBITOR patient demand units (units sold by distributors to hospitals or patients) increased in the second quarter by an estimated 17% over the first quarter and an estimated 23% over the second quarter of 2012;
  • Second quarter 2013 KALBITOR patient demand units were offset by an estimated 24% reduction in distributor channel inventory;
  • Investigational New Drug (IND) application for DX-2930 was filed in June 2013, with initiation of a Phase 1 study expected in the third quarter of 2013, subject to FDA review and comment on the IND;
  • Expecting multiple Phase 3 data readouts and completion of rolling Biologics License Application (BLA) for ramucirumab from the LFRP portfolio, which includes 13 revenue generating clinical candidates, of which three are in Phase 3 and four are in Phase 2 clinical development;
  • Completed a $30 million financing in May; cash, cash equivalents and investments at June 30, 2013 totaled approximately $46.9 million.

“Dyax remains a focused organization, with a clear strategy for advancing its key value drivers in both our hereditary angioedema franchise and LFRP,” stated Gustav Christensen, President and Chief Executive Officer of Dyax. “In the second quarter, the KALBITOR business returned to more normalized treatment rates, as confirmed by a rebound in patient demand unit growth. This business remains cash flow positive and continues to support the growth of the Company’s evolving internal pipeline. To that end, our IND for DX-2930 was recently filed with the FDA, and we look forward to moving this important compound into clinical trials for the prophylactic treatment of HAE.”

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
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!

Markets

DOW 17,954.27 +149.47 0.84%
S&P 500 2,077.95 +7.30 0.35%
NASDAQ 4,779.7670 +14.3870 0.30%

Brokerage Partners

Rates from Bankrate.com

  • 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