Anacor Pharmaceuticals, Inc.
) reported first quarter 2013 net loss per share of 42 cents,
wider than the Zacks Consensus Estimate of a loss of 34 cents but
narrower than the year-ago loss of 48 cents per share.
First quarter revenues were $1.7 million, compared with $2.4
million in the year-ago quarter. Revenues missed the Zacks
Consensus Estimate of $3 million.
Research and development expenses fell 11.8% year over year to
$11.2 million. The decline was due to lower clinical expenses for
tavaborole and also a fall in research and development related to
the Medicis collaboration.
Selling, general and administrative expenses increased 38.2%
year over year to $4.7 million, primarily driven by higher legal
fees relating to disputes with
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 intends to seek
US approval for the candidate in the indication in mid-2013.
Meanwhile, data from the ongoing phase II dose-ranging study
in adolescents for its atopic dermatitis candidate, AN2728, was
revealed in Mar 2013. This study showed a clear dose response
with AN2728 ointment. For AN2728, before starting a phase III
study in atopic dermatitis in the fourth quarter of 2013 or first
quarter of 2014, Anacor will commence two additional safety
studies, namely, MUSE (maximal use systemic exposure) and TQT
Anacor carries a Zacks Rank #3 (Hold). Currently, companies
Catalyst Pharmaceutical Partners Inc.
) look more attractive with a Zacks Rank #1 (Strong
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