BioCentury
ARTICLE | Financial News

Auxilium slips on 1Q13 results, Actient acquisition

April 30, 2013 12:49 AM UTC

Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL) fell $2.03 (13%) to $14 on Monday after reporting 1Q13 revenues that missed the Street and disclosing it acquired urology company Actient Pharmaceuticals LLC (Lake Forest, Ill.) for $585 million in cash up front, plus warrants and up to $50 million in revenue-dependent milestones. Auxilium reported a 1Q13 non-GAAP loss per share of $0.05, slightly wider than a loss per share of $0.04 in 1Q12 and missing by $0.07 the Street's estimate of $0.02. Net revenues for the quarter were $66.2 million, missing the Street's estimate of $81.2 million and down 10% from $73.6 million in 1Q12.

Auxilium markets Xiaflex/ Xiapex collagenase clostridium histolyticum in the U.S. and the EU to treat Dupuytren's contracture in adult patients with a palpable cord, which affects joints in the hand. The company also markets topical testosterone replacement therapy Testim to treat hypogonadism. Auxilium said it now expects 2013 Xiaflex revenues of $65-$80 million instead of $75-$90 million, and Testim revenues of $210-$240 million instead of $250-$265 million. ...