Trimeris, Inc. (TRMS) Reports Financial Results for the Fourth Quarter and Full Year 2010
3/15/2011 10:52:15 AM
DURHAM, N.C.--(BUSINESS WIRE)--Trimeris, Inc. (NASDAQ: TRMS) today announced financial results for the fourth quarter and full year ended December 31, 2010. The Company reported net income of $20.0 million, or $0.89 per share, for the year ended December 31, 2010 compared with $12.3 million, or $0.55 per share, for the year ended December 31, 2009. The year-to-year increase in net income is primarily driven by the Company’s previously reported entry into an agreement with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc. (“Roche”) during the third quarter that relieved Trimeris of any obligation to repay $18.7 million of deferred marketing expenses, which increased 2010 net income by the same amount.
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