Antares Pharma, Inc. (ATRS) saw its loss narrow to $4.74 million, or $0.03 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $7.66 million, or $0.05 a share.
Revenue during the quarter went down marginally by 2.53 percent to $12.01 million from $12.32 million in the previous year period. Gross margin for the quarter expanded 321 basis points over the previous year period to 48.21 percent. Operating margin for the quarter stood at negative 39.69 percent as compared to a negative 62.57 percent for the previous year period.
Operating loss for the quarter was $4.77 million, compared with an operating loss of $7.71 million in the previous year period.
"We are pleased with the continued growth in OTREXUP and Sumatriptan Injection, both products developed and supplied by Antares for commercial sale. With the potential for a late 2017 approval of QuickShot testosterone, we will leverage and look to expand our existing commercial organization and infrastructure to support the launch of QST into a large market opportunity which we believe may benefit from a new treatment option," said Robert F. Apple, president and chief executive officer of the Company. "The Company's first quarter results reflect a continued focus on growing product revenue, producing prelaunch quantities of commercial devices and controlling operating expenses with appropriate reinvestment in our future while we await potential FDA approval of four partnered drug device combination products as well as our own QST product."
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