By RTT News,
January 16, 2014, 07:38:00 AM EDT
(RTTNews.com) - Derma Sciences, Inc ( DSCI ), a medical device and pharmaceutical company focused on advanced wound care, Thursday said it expects revenue for the full year 2013 to be $79.7 million, which would represent a 7.7 percent growth over last year. The company also projected 2014 revenue to be $92 million, based on an expectation of continued organic AWC revenue growth of 30 - 40 percent.
On average, three analysts polled by Thomson-Reuters estimate the company 's revenue to be $82.85 million for 2013 and $94.50 million for 2014. Analysts' estimates typically exclude one-time items.
The company expects to complete patient enrollment in its Phase 3 pivotal trials with DSC127 for the treatment of diabetic foot ulcers, in the first half of 2015, with top line data to be reported in the second half. The costs of the development program are expected to be approximately $55 million. Further, the company announces that it has filed amendments with the FDA for many minor changes to the clinical intrusion protocols that the company and its advisers believe will help in accelerating the screening and enrollment of patients in the Phase 3 trials. Derma Sciences will provide an update at the halfway point of patient enrollment in the Phase 3 pivotal trials.
Derma Sciences also said that it has initiated preclinical work with DSC127 for surgical scar reduction, which is a second clinical indication.
Derma Sciences expects to report financial results for 2013 on March 14.
Wednesday, the stock closed at $12.11 on the Nasdaq.
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