Optimer Pharma Up 6% After Beating Earnings Estimates
Shares of Optimer Pharma (NASDAQ: OPTR) are up 6% after the company beat earnings estimates.
For the fiscal year 2011 total revenues were $145 million, compared to $1.5 million for the fiscal year 2010. Total revenues for the fourth quarter 2011 were $64.6 million, compared with $156,000 for the fourth quarter 2010. The increases in revenues were primarily due to an upfront payment received from Astellas Pharma Europe in the first quarter and an EMA approval milestone earned in the fourth quarter in connection with the DIFICID license agreement in Europe, as well as the July 18, 2011 commercial launch of DIFICID in the United States.
DIFICID net product sales were $21.5 million and $11 million for the fiscal year 2011 and fourth quarter, respectively. Optimer recognizes product sales of DIFICID upon delivery of product to its wholesalers.
For the fiscal year 2011, Optimer reported net income of $7.8 million, or $0.17 per share on both a basic and diluted basis, as compared to a net loss for the fiscal year of 2010 of $47.3 million, or ($1.25) per share on both a basic and diluted basis.
Net income for the fourth quarter of 2011 was $13.4 million, or $0.29 and $0.28 per share on a basic and diluted basis, respectively, as compared to a net loss for the fourth quarter of 2010 of $11.9 million, or ($0.31) per share, on both a basic and diluted basis.
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