NEW YORK (TheStreet) -- Horizon Pharma (HZNP) closed trading down 6.02% to $27.62 on Friday after the pharmaceutical company released its first-quarter earnings results before the opening bell today.
The company reported a first-quarter net loss of $19.6 million, or 21 cents per share on an adjusted basis, missing analysts' consensus estimates of 23 cents per share by 2 cents. Revenue for the period rose 118% to $113.1 million, topping analysts estimates of $103.7 million.
The company also issued full-year revenue guidance between $590 million and $610 million, well above analysts' $539 million expectations for the year.
Separately, the company announced that it settled patent infringement litigation with generic drug maker Perrigo (PRGO) that grants Perrigo non-exclusive rights to market a generic version of Horizon's arthritis ointment, Pennsaid, in the U.S.
Horizon shares are up 0.36% to $27.72 in after-hours trading today.
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