This Day On The Street
Continue to site
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

Raptor Pharmaceutical Reports First Quarter 2014 Financial Results And Provides Corporate Update

Reports PROCYSBI ® net product sales of $12.1 million in first quarter 2014 and launch of PROCYSBI ® in Germany Company to host conference call and webcast today at 4:30 p.m. EDT

NOVATO, Calif., May 8, 2014 (GLOBE NEWSWIRE) -- Raptor Pharmaceutical Corp. (Nasdaq:RPTP) today reported financial results for the first quarter ended March 31, 2014 and provided an update on recent corporate developments.

Corporate Update and Operational Highlights
  • Net product sales for PROCYSBI ® for the first quarter ended March 31, 2014 were $12.1 million, demonstrating a 20% quarter over quarter growth. PROCYSBI became commercially available in the U.S. in June 2013.  
  • As of March 31, 2014, 199 cumulative unique patients have received PROCYSBI, representing 20% quarter over quarter growth.  
  • The EU launch of PROCYSBI is underway in Germany, with initial product shipments in April at an average annualized price of €144,000.  
  • Cash and cash equivalents as of March 31, 2014 were $68.1 million.

"The first quarter of 2014 showed strong progress for Raptor and I am particularly pleased by our recent commercial launch in Germany," said Christopher M. Starr, Ph.D., Raptor's chief executive officer. "Our product shipments in Germany represent a first step in opening an important new regional market for PROCYSBI."

Financial Results for the First Quarter Ended March 31, 2014

Raptor recognized $12.1 million in PROCYSBI net product sales for the first quarter ended March 31, 2014. There were no product sales reported for the comparable prior year period as PROCYSBI became commercially available in the U.S. in June 2013. Revenue is recognized once PROCYSBI has been shipped by the specialty pharmacy and accepted by the patient.

Cost of sales for the first quarter ended March 31, 2014 was $1.3 million, which was 11% of net sales. Cost of sales includes third-party manufacturing cost of products sold, royalty fees, amortization of capitalized milestones, shipping, supplies and other indirect manufacturing related costs including compensation cost of personnel. There was no cost of sales reported for the comparable prior year period as PROCYSBI became commercially available in the U.S. in June 2013.

1 of 4

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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs