AVANIR Pharmaceuticals Pops on Q4 Earnings Results

Shares of AVANIR Pharmaceuticals

are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher by 1.32%, trading at $2.31; they ended the regular session lower by 0.87%, at $2.28. AVANIR Pharmaceuticals reported Q4 EPS of ($0.14) on revenues of $1.8 million. Revenues increased 561% year over year; total net revenues consist of royalty revenue from Abreva® and NUEDEXTA. Cash used in operations was $14.0 million. "I am pleased with the foundation for commercial success that we established in fiscal and calendar 2011," said Keith A. Katkin, president and CEO of Avanir. "I am excited about 2012 and look forward to further expanding the commercial success of NUEDEXTA while advancing clinical opportunities for AVP-923 with studies in central neuropathic pain due to multiple sclerosis and behavioral disturbances associated with Alzheimer's disease." AVANIR Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing therapeutic products for the treatment of central nervous system disorders. The company focuses on products for the central nervous system. It also has a number of partnered programs in other therapeutic areas.