BioCentury
ARTICLE | Top Story

Aegerion falls on 1Q14 results, lowered guidance

May 7, 2014 11:24 PM UTC

Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR) fell $9.53 (22%) to $34.63 on Wednesday after reporting 1Q14 financial results that missed the Street and lowering its 2014 guidance. Sales of Juxtapid lomitapide, the company's only product, were $27 million in the quarter, up from $1.2 million in 1Q13 but missing the Street's $33.6 million estimate. Aegerion markets Juxtapid in the U.S. and in the EU as Lojuxta for homozygous familial hypercholesterolemia (hoFH). The company reported 1Q14 GAAP loss per share of $0.54, wider than the Street's estimate of a loss per share of $0.35.

Aegerion now expects 2014 revenues of $180-$200 million, down from its previous guidance of $190-$210 million. The Street was expecting $200.8 million. On a conference call to discuss its financial results, Aegerion attributed the lowered guidance to an ongoing government investigation related to Juxtapid prescriptions in Brazil, where the company markets the drug on a named-patient basis. ...