This Day On The Street
Continue to site
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

Dyax Corp. Announces First Quarter 2014 Financial Results

Dyax Corp. (NASDAQ: DYAX) today announced financial results for the first quarter ended March 31, 2014. 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 hereditary angioedema (HAE) business, including KALBITOR ® (ecallantide) and DX-2930, and the Licensing and Funded Research Portfolio (LFRP).

Highlights of the first quarter 2014 included:

  • KALBITOR ® net sales were $12.5 million, an increase over first quarter 2013 net sales which were $8.6 million;
  • KALBITOR patient demand units (units sold by distributors to hospitals or patients) increased by approximately 39% over the first quarter of 2013;
  • The DX-2930 Phase 1a clinical study completed, with a Phase 1b study planned to begin dosing HAE patients in mid-2014;
  • Cash, cash equivalents and investments at March 31, 2014 totaled $187.2 million; and
  • In April, Dyax’s licensee Lilly received FDA approval for CYRAMZA™ (ramucirumab) as a single-agent treatment for patients with advanced gastric cancer after prior chemotherapy, making this the first approved product from Dyax’s LFRP.

"We continue to execute on our goals across a diversified set of core assets that include KALBITOR, DX-2930 and the LFRP," said Gustav Christensen, President and Chief Executive Officer of Dyax. "In the first quarter, KALBITOR continued its strong sales performance. We also recently received FDA approval for expansion of the KALBITOR label to include patients 12 years of age and older. This accomplishment makes KALBITOR the first and only subcutaneous therapy available to treat acute HAE attacks in pediatric patients in the 12-17 age group."

2014 First Quarter Financial Results

Total revenues for the first quarter ended March 31, 2014 were $14.1 million, as compared to $12.0 million for the comparable quarter in 2013. These include KALBITOR net sales of $12.5 million and $8.6 million for the first quarters of 2014 and 2013, respectively.

1 of 5

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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,992.86 -77.54 -0.43%
S&P 500 2,100.73 -13.76 -0.65%
NASDAQ 4,959.6410 -57.2880 -1.14%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs