Wider-Than-Expected Loss at Anacor - Analyst Blog

By
A A A

Anacor Pharmaceuticals, Inc. ( ANAC ) 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 Valeant Pharmaceuticals ( VRX ).

Pipeline Update

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 (thorough QT).

Anacor carries a Zacks Rank #3 (Hold). Currently, companies like Santarus, Inc. ( SNTS ) and Catalyst Pharmaceutical Partners Inc. ( CPRX )  look more attractive with a Zacks Rank #1 (Strong Buy).



ANACOR PHARMACT (ANAC): Free Stock Analysis Report

CATALYST PHARMA (CPRX): Free Stock Analysis Report


SANTARUS INC (SNTS): Free Stock Analysis Report

VALEANT PHARMA (VRX): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Business , Stocks

Referenced Stocks: ANAC , CPRX , SNTS , SPA , VRX

Zacks.com

Zacks.com

More from Zacks.com:

Related Videos

Stocks

Referenced

Most Active by Volume

119,956,996
  • $16.44 ▲ 2.37%
99,912,731
  • $10.19 ▲ 28.66%
80,293,052
  • $112.92 ▲ 2.94%
63,393,249
  • $25.01 ▲ 4.16%
62,741,761
  • $105.64 ▲ 2.53%
58,602,243
  • $2.28 ▲ 49.02%
54,599,350
  • $27.99 ▼ 2.34%
49,126,783
  • $43.90 ▲ 2.79%
As of 8/27/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com