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Sucampo Pharmaceuticals, Inc. Reports Second Quarter And Six Months 2013 Financial And Operating Results

Stocks in this article: SCMP

Company Reports Profitable Quarter and Will Provide Earnings Guidance Company to Host Conference Call Today at 5:00 pm Eastern

BETHESDA, Md., Aug. 8, 2013 (GLOBE NEWSWIRE) -- Sucampo Pharmaceuticals, Inc. ("Sucampo") (Nasdaq:SCMP), a global biopharmaceutical company with products available in the United States (U.S.), Japan and Europe, today reported its consolidated financial results for the second quarter and six months ended June 30, 2013.

Sucampo had earnings growth in the U.S. and Japan while continuing investment in Europe to expand new market opportunities. For the second quarter of 2013, Sucampo reported a net income of $6.1 million, or $0.14 per diluted share, compared to a net loss of $0.8 million, or $0.02 per diluted share, for the second quarter of 2012. Sucampo reported a net income of $3.0 million, or $0.07 per diluted share, for the first six months of 2013 compared to a net loss of $2.7 million, or $0.07 per diluted share, for the prior year period.

"The first six months of 2013 have been extremely productive for Sucampo," said Ryuji Ueno, M.D., Ph.D., Ph.D., Chairman, Chief Executive Officer, and Chief Scientific Officer of Sucampo. "Our key highlight of the second quarter was the approval of our sNDA for opioid-induced constipation in adults with chronic, non-cancer pain, the third indication for AMITIZA, and receipt of a $10.0 million milestone payment from our commercial partner Takeda in the second quarter. Sales of AMITIZA continued to grow in the quarter, and launch activities for RESCULA also progressed. We also made significant progress in our pipeline, including progressing plans to launch a phase 3 pediatric program for AMITIZA in the second half of this year. We are very pleased with these successes for our commercialized products and our pipeline compounds, and we are confident that we are on track to meet our upcoming milestones over the rest of the year."

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