Advancis Slashes Guidance

It cites slow Keflex stocking.
Author:
Publish date:

Advancis Pharmaceutical

(AVNC)

slashed 2006 guidance, citing lower-than-expected stocking of its Keflex antibiotic.

The Germantown, Md., company said it expects 2006 Keflex sales of $7 million to $10 million, down from the earlier $16.5 million target. As a result, Advancis expects to lose around $1.26 a share for the year and end up with around $5 million in cash. Earlier it had forecast a roughly $1.15-a-share loss with $12 million or more in cash.

The company said it made efforts late last month to increase the number of pharmacies stocking the drug and expects more than 20,000 to carry it by the end of this month.