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Avanir Pharmaceuticals Pre-announces Preliminary Fiscal 2014 First Quarter Financial Information

Stocks in this article: AVNR





ALISO VIEJO, Calif., Jan. 13, 2014 /PRNewswire/ -- Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today announced preliminary financial information (unaudited) for the quarter-ended December 31, 2013, in anticipation of the company's attendance at the J.P. Morgan 32 nd Annual Healthcare Conference.

(Logo: http://photos.prnewswire.com/prnh/20130207/LA55901LOGO)

Based on preliminary financial information (unaudited) for the quarter-ended December 31, 2013, Avanir estimates:

  • Total gross revenues of approximately $34.6 million (Non-GAAP)
  • Gross product revenue for NUEDEXTA® of approximately $31.3 million (Non-GAAP), representing an increase of approximately 13% versus the quarter ended September 30, 2013
  • NUEDEXTA gross-to-net discount in the range of approximately 24-26%
  • NUEDEXTA net product revenue growth of approximately 15-18% sequentially over the previous quarter
  • Cash used in operations of approximately $9.5 million
  • Cash, cash equivalents and investments in securities totaling approximately $46.5 million, including cash and cash equivalents of approximately $43.9 million and restricted investments in securities of approximately $2.6 million

About NUEDEXTANUEDEXTA is an innovative combination of two well-characterized components; dextromethorphan hydrobromide (20 mg), the ingredient active in the central nervous system, and quinidine sulfate (10 mg), a metabolic inhibitor enabling therapeutic dextromethorphan concentrations. NUEDEXTA acts on sigma-1 and NMDA receptors in the brain, although the mechanism by which NUEDEXTA exerts therapeutic effects in patients with PBA is unknown.

NUEDEXTA Important Safety InformationNUEDEXTA is indicated for the treatment of pseudobulbar affect (PBA). PBA occurs secondary to a variety of otherwise unrelated neurological conditions, and is characterized by involuntary, sudden, and frequent episodes of laughing and/or crying. PBA episodes typically occur out of proportion or incongruent to the underlying emotional state.

Studies to support the effectiveness of NUEDEXTA were performed in patients with amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS). NUEDEXTA has not been shown to be safe and effective in other types of emotional lability that can commonly occur, for example, in Alzheimer's disease and other dementias.

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