Amylin's Sales Fall Short

Its quarterly loss is in line with estimates.
Publish date:

Diabetes drug developer

Amylin Pharmaceuticals


posted second-quarter results Monday that fell in line with Wall Street's expectations.

For the three months ended June 30, San Diego-based Amylin lost 34 cents, which matched the consensus forecast. Revenue of $197 million just missed the Thomson First Call average prediction of $198.1 million.

By comparison, Amylin's year-ago quarter featured a loss of 38 cents a share on revenue of $108.8 million. That quarter's net loss was $46.4 million vs. a net loss of $45 million for the just-completed quarter.

Amylin makes two diabetes drugs, and most sales came from Byetta, which is derived from the saliva of the Gila monster. Amylin, which has a marketing deal with

Eli Lilly

(LLY) - Get Report

, recorded $152.1 million in Byetta sales, up from $98.6 million for the same period last year.

Sales of Symlin, which Amylin markets by itself, rose to $15.2 million from $10.2 million. Revenue from agreements with other companies climbed to $29.6 million from $9.4 million.

Amylin released its financial data after markets had closed. In regular trading, the stock finished at $43.08, down 49 cents, or 1.1%. After hours, the stock lost another 62 cents, or 1.4%.