Aegerion Pharmaceuticals, Inc.
) reported fourth quarter 2013 net loss per share of 47 cents,
wider than the Zacks Consensus Estimate of a loss of 28 cents but
narrower than the year-ago loss of 86 cents. Shares fell 7.3%
after the earnings release.
Net product revenues for the quarter were $24.5 million from
Juxtapid, which is the sole marketed product at Aegerion. The
company did not report any revenues in the year-ago quarter.
Juxtapid revenues rose sequentially by 50.3%. Revenues marginally
surpassed the Zacks Consensus Estimate of $24 million.
In the fourth quarter of 2013, research and development
(R&D) expenses were $8.5 million, compared with $8.6 million
in the year-ago quarter. The increase in R&D spend reflects
expenses related to Juxtapid's development in Japan and increased
headcount in support of Aegerion's regulatory and medical
Selling, general and administrative (SG&A) expenses
swelled 108.1% year over year to $27.2 million, mainly due to a
higher headcount and selling and marketing expenses for the
launch of Juxtapid.
Juxtapid is approved for the treatment of patients suffering
from homozygous familial hypercholesterolemia (HoFH). It was
launched in the U.S. in late Jan 2013. Aegerion gained EU
approval in Jul 2013 under the brand name Lojuxta. Aegerion also
gained marketing approval in Canada and Mexico for Juxtapid as an
adjunctive treatment for adult HoFH patients. Aegerion faces
challenging reimbursement environment in the EU. Lojuxta will be
launched in Europe on a limited basis in 2014.
The company expects to start a therapeutic study of Juxtapid
in Japanese HoFH patients in the first quarter of this year.
Aegerion plans to submit the new drug application in Japan in the
first half of 2015.
Aegerion reported 2013 loss of $2.19 per share, wider than the
Zacks Consensus Estimate of a loss of $1.99 but narrower than the
2012 loss of $2.64 per share.
Full year revenues were $48.5 million, marginally beating the
Zacks Consensus Estimate of $48 million. The company did not
report any revenues in the prior year.
2014 Outlook Maintained
For 2014, Aegerion expects net revenues in the range of
$190-$210 million. The Zacks Consensus Estimate currently stands
at $204 million for 2014.
Aegerion carries a Zacks Rank #3 (Hold). Investors looking for
better-ranked stocks in the biopharma sector may consider
Lannett Co., Inc.
Biogen Idec Inc.
). Actelion and Biogen carry a Zacks Rank #2 (Buy) while Lannett
holds a Zacks Rank #1 (Strong Buy).
AEGERION PHARMA (AEGR): Free Stock Analysis
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