EWING, N.J.--(BUSINESS WIRE)--Antares Pharma, Inc. (AMEX:AIS) reported financial and operating results for the three and six months ended June 30, 2007. Total revenue reached $1.8 million for the second quarter of 2007, a year-over-year increase of 110% compared to $859,000 for the second quarter of 2006. For the six months ended June 30, 2007, total revenues were approximately $4.65 million compared to $1.50 million in 2006. The increase in the quarter was due primarily to increases in product sales to Antares’ major European customer and due to increases in development revenue. The increase in the six month period was due primarily to a payment of $1.75 million under a license agreement with BioSante Pharmaceuticals, Inc, which was triggered by the December 2006 FDA approval of Elestrin®, along with increases in product revenue and development revenue. The product gross margin percentage also increased in the second quarter of 2007 to 53% from 44% in the same quarter of 2006 and increased to 49% in the six month period of 2007 from 40% in the same period of 2006.
