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Raptor Pharmaceutical Corp. Provides PROCYSBI(R) Launch Update And Third Quarter 2013 Financial Results

Stocks in this article: RPTP

NOVATO, Calif., Nov. 7, 2013 (GLOBE NEWSWIRE) -- Raptor Pharmaceutical Corp. (Nasdaq:RPTP) today provided financial results for its third quarter and nine months ended September 30, 2013.

PROCYSBI Update and Operational Highlights

  • Net product sales for the quarter ended September 30, 2013 were $6.6 million.  
  • As of September 30, 2013, there were 194 new PROCYSBI prescriptions from 194 unique patients, and 99 patients on drug.  
  • The company is increasing guidance for 2013 to at least 160 patients on therapy by the end of the year, and approximately $15 million in net product sales for the year.  
  • On September 6, 2013, PROCYSBI received marketing approval from the European Union (EU) for the treatment of proven nephropathic cystinosis.  
  • Data from our Phase 2/3 study of PROCYSBI (RP103) in Huntington's disease following the first 18 months of treatment are anticipated in the first quarter of 2014.

"With the first full quarter of PROCYSBI sales now complete, I am very pleased with the pace of the launch and our team's performance. We continue to make significant strides in providing access to PROCYSBI and communicating its benefits to both caregivers and patients, which bodes well for our future success," said Christopher M. Starr, Ph.D., Raptor's chief executive officer. "Beyond cystinosis, our Phase 2/3 trial in Huntington's disease is progressing well and we expect to have top-line data in the first quarter of 2014, followed up by full enrollment of our pediatric non-alcoholic fatty liver disease trial."

"The speed and depth of PROCYSBI adoption has exceeded our expectations, with roughly half of the identified market converted," said Julie Anne Smith, executive vice president strategy and chief operating officer. "With our exceptional uptake thus far, we now turn our focus to bringing PROCYSBI to those appropriate patients not currently on therapy, ensuring patients receive the maximum benefit of PROCYSBI through adherence to therapy, and potentially expanding the addressable market through our newly formed screening initiative with DaVita to identify adult patients with late-onset cystinosis."

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