Antares Pharma Reports Second Quarter 2016 Operating And Financial Results
EWING, N.J., Aug. 09, 2016 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ:ATRS) today reported operating and financial results for the second quarter ended June 30, 2016. The Company reported revenue of $12.2 million and a net loss per share of $0.04 for the second quarter and revenue of $24.5 million and a net loss of $0.09 per share for the first half of 2016. Product sales, which represent sales of our proprietary products and devices or device components to our partners, rose to $8.7 million for the three months ended June 30, an increase of 49% compared to the second quarter of 2015.
“The Company reported another solid quarter of top-line results which included growth in Otrexup revenue and the delivery of significant quantities of sumatriptan injection USP to our commercial partner Teva,” said Robert F. Apple, President and Chief Executive Officer of the Company. “In addition to the growth in product sales, I’m also pleased to report that development revenue nearly tripled versus last quarter as we continue to make progress on three important development projects including exenatide and teriparatide with our partner Teva and Makena with our partner AMAG. We believe that this continued quarterly increase in development revenue will ultimately translate into future product and royalty revenue assuming approval of these alliance projects.”
“The Company reported another solid quarter of top-line results which included growth in Otrexup revenue and the delivery of significant quantities of sumatriptan injection USP to our commercial partner Teva,” said Robert F. Apple, President and Chief Executive Officer of the Company. “In addition to the growth in product sales, I’m also pleased to report that development revenue nearly tripled versus last quarter as we continue to make progress on three important development projects including exenatide and teriparatide with our partner Teva and Makena with our partner AMAG. We believe that this continued quarterly increase in development revenue will ultimately translate into future product and royalty revenue assuming approval of these alliance projects.”