Hyperion Therapeutics, Inc.
) reported second-quarter 2013 loss of 27 cents per share,
significantly narrower than the year-ago loss of $15.26 per
share, but wider than the Zacks Consensus Estimate of a loss of
16 cents per share.
ACTELION LTD (ALIOF): Get Free Report
HYPERION THERAP (HPTX): Free Stock Analysis
JAZZ PHARMACEUT (JAZZ): Free Stock Analysis
VALEANT PHARMA (VRX): Free Stock Analysis
To read this article on Zacks.com click here.
Quarter in Details
Quarterly revenues came in at $7.3 million. The company did not
report revenues in the year-ago period. Reported revenues were
higher than the Zacks Consensus Estimate of $2 million. The
company has two marketed products, Ravicti and Buphenyl.
Research and development (R&D) expenses decreased 3.7% to
$2.5 million. Hyperion is developing glycerol phenylbutyrate
(GPB) for the treatment of hepatic encephalopathy (HE). Hyperion
completed a phase II study in HE which led to the decrease in
R&D expenses due to reduced clinical development costs.
Selling, general, and administrative (SG&A) expenses
increased sharply by 326% to $8.1 million.
The company expects operating expense between $41 million to $46
million for 2013 excluding stock based compensation and Buphenyl
transaction related costs.
During the reported quarter, Hyperion acquired global rights to
Buphenyl tablets and powder from Ucyclyd Pharma Inc., a
Valeant Pharmaceuticals International, Inc.
Buphenyl is approved by the U.S. Food and Drug Administration
(FDA) to treat urea cycle disorders (UCD).Meanwhile, Ravicti was
approved by the FDA in Feb 2013 as a nitrogen-binding agent for
chronic management of adult and pediatric UCD patients more than
two years of age who cannot be managed by dietary protein
restriction and/or amino acid supplementation alone. In May 2013,
Ravicti qualified for orphan drug designation in the U.S. The
company is planning to begin a phase III study in HE by the end
Hyperion currently carries a Zacks Rank #3 (Hold). Companies that
look well-positioned include
Jazz Pharmaceuticals Public Limited Company
), with a Zacks Rank #1 (Strong Buy) and a Zacks Rank #2 (Buy),