) fourth-quarter 2012 adjusted net loss of 16 cents per share was
narrower than the year-ago loss of 36 cents per share and the
Zacks Consensus Estimate of a loss of 17 cents per share. The
narrower loss was primarily attributable to lower selling,
general and administrative (SG&A) expenses incurred by
Zogenix in the final quarter of 2012.
ASTELLAS PHARMA (ALPMY): Get Free Report
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Total revenues in the reported quarter climbed 20.2% to $9.5
million. Revenues marginally missed the Zacks Consensus Estimate
of $10 million. Entire revenues in the final quarter of 2012 came
from net product sales.
Revenues in the year-ago quarter included contract revenue worth
$2.5 million pertaining to Zogenix's co-promotion agreement with
). The deal, which was regarding Zogenix's injectable migraine
and cluster headache therapy Sumavel DosePro, was terminated on
Mar 31, 2012.
Research and development (R&D) expenses came in at $5.4
million, flat year over year. SG&A expenses declined 33.1% to
$11.9 million. The decline was primarily attributable to the $5.7
million reduction in service fees to Astellas Pharma following
the termination of Zogenix's co-promotion agreement with the
For full year 2012, Zogenix suffered a loss of 72 cents per
share, compared with the year-ago loss of $1.97 per share. The
Zacks Consensus Estimate for 2012 hinted at a loss of 79 cents
per share. Total revenues climbed 17.8% to $44.3 million, short
of the Zacks Consensus Estimate of $45 million.
Zogenix carries a Zacks Rank #2 (Buy). Other favorably placed
stocks in the pharma sector include
Lannett Company, Inc.
WuXi PharmaTech (Cayman) Inc.
). Both the stocks carry a Zacks Rank #1 (Strong Buy).