Aegerion Pharmaceuticals, Inc. (AEGR) saw its loss widen to $26.57 million, or $0.90 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $9.76 million, or $0.34 a share. On an adjusted basis, net loss for the quarter was $11.02 million, when compared with net profit $5.74 million in the last year period.
Revenue during the quarter plunged 47.42 percent to $35.39 million from $67.30 million in the previous year period. Gross margin for the quarter contracted 1758 basis points over the previous year period to 60.90 percent. Operating margin for the quarter stood at negative 53.03 percent as compared to a negative 3.55 percent for the previous year period.
Operating loss for the quarter was $18.76 million, compared with an operating loss of $2.39 million in the previous year period.
Chief executive officer Mary Szela commented, "We continue to make significant strides toward reinvigorating Aegerion and returning to growth. In the third quarter, we strengthened the commercial pillars of our business, particularly through MYALEPT. We have initiated a stronger emphasis on the education of physicians to assist in identifying appropriate GL patients eligible for metreleptin therapy. We were also encouraged to see the rate of JUXTAPID patient attrition due to PCSK9 inhibitors continue to stabilize, reinforcing our belief that there exists a core base of adult HoFH patients for whom JUXTAPID will remain a crucial therapy."
Debt moves up
Aegerion Pharmaceuticals, Inc. has witnessed an increase in total debt over the last one year. It stood at $274.34 million as on Sep. 30, 2016, up 8.02 percent or $20.37 million from $253.96 million on Sep. 30, 2015. Total debt was 77.53 percent of total assets as on Sep. 30, 2016, compared with 56.02 percent on Sep. 30, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
