Connetics meets Street

CNCT reported second quarter EPS of $0.07, meeting the Street's expectations but down 63% from $0.19 in the same period of 2004. The decrease in EPS was due to higher costs in sales and marketing and increased R&D spending. Product revenues in the second quarter rose 19% to $45.2 million from $38 million in 2004. Acne treatment Evoclin, which was launched in December 2004, had second quarter sales of $7 million. ...