), which had incurred a wider-than-expected loss in each of the
last two quarters, reported a narrower-than-expected loss in the
third quarter of fiscal 2014 report (ended Jun 30, 2014) earlier
Biodel reported a loss of 15 cents per share, narrower than the
year-ago loss of 66 cents per share and the Zacks Consensus
Estimate of a loss of 26 cents per share.
Biodel Inc - Earnings Surprise |
Biodel did not generate any revenues in the reported quarter and
in the year-ago quarter.
Quarter in Detail
Research & development expenses increased 4.4% to $3.6
million. This increase was primarily driven by expenses related to
the development of the Glucagon Emergency Management (GEM)
General & administrative expenses decreased 23.8% to $1.3
Apart from announcing earnings results, Biodel announced
positive results from a phase II study (3-152) on BIOD-531, the
company's lead candidate for an ultra-rapid-acting insulin
formulation. The company is working with the FDA on the pivotal
The study demonstrated superiority to Eli Lilly & Company's
) Humulin R U-500 and Humalog Mix 75/25 on post prandial glucose
control following two standardized meals in patients with type 2
diabetes with moderate insulin resistance.
Meanwhile, Biodel is planning to expand the scope of the study
3-151 on BIOD-531 and it expects to complete the modified study in
the fourth quarter of 2014.
The company announced positive results from a human factor study
evaluating the successful handling of its GEM device with limited
to no training. The final pivotal study is expected to complete in
the third quarter of 2015.
Biodel intends to file for a New Drug Application for the device
in late 2015.
Biodel carries a Zacks Rank #3 (Hold). Some better-ranked stocks
in the health care sector include Endo International plc (
) and Avanir Pharmaceuticals, Inc. (
). While Endo International carries a Zacks Rank #1 (Strong Buy),
Avanir holds a Zacks Rank #2 (Buy).
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