Furiex Pharmaceuticals Earnings: Here’s Why Investors are Not Excited Now
Furiex Pharmaceuticals, Inc. (NASDAQ:FURX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.35%.
Furiex Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-2.32 in the quarter versus EPS of $-2.09 in the year-earlier quarter.
Revenue: Decreased 77.06% to $3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Furiex Pharmaceuticals, Inc. reported adjusted EPS loss of $2.32 per share. By that measure, the company missed the mean analyst estimate of $-1.65. It missed the average revenue estimate of $11.94 million.
Quoting Management: Fred Eshelman, Pharm.D., chairman of Furiex, added, “The U.S. launch of Nesina, Kazano® and Oseni® on June 17, 2013, the positive CHMP opinion on the alogliptin family of products and the recent marketing authorization from the CFDA, we believe, will add value to the alogliptin franchise and continue to provide an important foundation for our business. We remain on track with the development of eluxadoline and we are one step closer to our goal of filing a New Drug Application with patient enrollment in the Phase III clinical trials now complete.”
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