Anacor Pharmaceuticals, Inc.
) reported fourth-quarter 2012 net loss per share of 36 cents,
narrower than the Zacks Consensus Estimate of a loss of 44 cents
and the year-ago loss of 52 cents per share.
Fourth-quarter revenues were $3.3 million, compared with $2.6
million in the year-ago quarter. Revenues edged past the Zacks
Consensus Estimate of $3 million.
In fourth quarter 2012, research and development expenses fell
13.8% year over year to $12 million. The decrease was driven by
lower clinical trial activity of tavaborole. Selling,
general and administrative expenses fell 3.7% year over year to
$2.8 million in the reported quarter.
In Dec 2012, Anacor Pharma announced the achievement of the
second development candidate in its animal health collaboration
Eli Lilly and Company
). As per the agreement, Anacor Pharma received a payment of $1
million for this milestone. Additionally, the company is eligible
to receive development and regulatory milestones as well as
Full-year 2012 net loss per share was $1.76, narrower than the
Zacks Consensus Estimate of a loss of $1.82 but wider than the
year-ago loss of $1.71 per share. Revenues in 2012 were $10.7
million, compared with $20.3 million in 2011. Revenues for 2012
narrowly missed the Zacks Consensus Estimate of $11 million.
Apart from releasing financial results, Anacor Pharma also
provided an update on its pipeline. In the first quarter of 2013,
the company announced positive results from two phase III studies
on its topical antifungal candidate, tavaborole (AN2690). The
studies, 301 and 302, evaluated the candidate for the prevention
of onychomycosis. They were conducted under the US Food and Drug
Administration's (FDA) Special Protocol Assessment (SPA) program.
Anacor Pharma intends to seek US approval for the candidate in
the indication in mid-2013.
Moreover, Anacor Pharma expects data from the ongoing phase II
dose-ranging study in adolescents for its atopic dermatitis
candidate, AN2728, shortly.
Anacor Pharma carries a Zacks Rank #3 (Hold). Currently,
Lannett Company, Inc.
) look more attractive in the pharma space with a Zacks Rank #1
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