BioMarin Pharmaceutical Inc. Announces First Quarter 2014 Financial Results And VIMIZIM™ Launch Progress
Published: May 02, 2014
SAN RAFAEL, Calif., May 1, 2014 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) today announced financial results for the first quarter ended March 31, 2014. Non-GAAP net loss was $1.7 million ($0.01) per share, basic and diluted for the first quarter of 2014, compared to non-GAAP net loss of $8.0 million ($0.06) per share, basic and ($0.07) per share, diluted for the first quarter of 2013. GAAP net loss was $38.1 million ($0.26) per share, basic and ($0.27) per share diluted for the first quarter of 2014, compared to GAAP net loss of $39.8 million ($0.31) per share, basic and diluted for the first quarter of 2013. The decreased non-GAAP net loss and GAAP net loss for the first quarter of 2014 compared to the first quarter of 2013 was primarily due to strong revenue growth across the commercial product portfolio, partially off-set by increased selling, general and administrative expenses, including costs associated with VIMIZIM launch activities, as well as increased research and development expenses.
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