This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Dyax Corp. Announces Second Quarter 2014 Financial Results

Dyax Corp. (NASDAQ: DYAX) today announced financial results for the second quarter ended June 30, 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), DX-2930, and the Licensing and Funded Research Portfolio (LFRP).

Highlights for the second quarter 2014 included:

  • Commenced dosing in the Phase 1b study of DX-2930 in HAE patients;
  • Dyax licensee, Eli Lilly and Company (Lilly), began marketing CYRAMZA™ (ramucirumab) as a single agent treatment for patients with advanced gastric cancer after prior chemotherapy;
  • KALBITOR ® net sales were $16.6 million, an increase over the second quarter 2013 net sales which were $8.6 million;
  • KALBITOR patient demand units (units sold by distributors to hospitals or patients) increased by approximately 40% over the second quarter 2013; and
  • Cash, cash equivalents and investments at June 30, 2014 totaled $187.7 million.

"We achieved a number of milestones in the second quarter, including continued growth in the KALBITOR business,” said Gustav Christensen, President and Chief Executive Officer of Dyax. “We also commenced dosing in the Phase 1b study of DX-2930, our drug candidate for the prevention of HAE attacks. We expect to report data from this study in early 2015.”

Mr. Christensen concluded, “Our licensee, Lilly, also launched CYRAMZA, the first approved product from our LFRP. Dyax is eligible to receive a net royalty of 2.5% on the first ten years of commercial sales. We continue to execute on our goals and Dyax remains well-positioned for future growth thanks to the diversity of our businesses.”

2014 Second Quarter Financial Results

Total revenues for the quarter ended June 30, 2014 were $19.6 million, as compared to $11.3 million for the comparable quarter in 2013. Included in 2014 revenues were $16.6 million of KALBITOR net sales, as compared to $8.6 million for the same period in 2013. For the six months ended June 30, 2014, total revenues were $33.7 million, compared to $23.4 million for the same period in 2013. The six-month 2014 revenues included $29.1 million of KALBITOR net sales, as compared to $17.2 million in the 2013 period.

1 of 6

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs