Antares Pharma, Inc. (ATRS) saw its loss narrow to $4.50 million, or $0.03 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $6.63 million, or $0.04 a share.
Revenue during the quarter grew 20.26 percent to $14.20 million from $11.80 million in the previous year period. Gross margin for the quarter expanded 350 basis points over the previous year period to 52.88 percent. Operating margin for the quarter stood at negative 29.72 percent as compared to a negative 54.98 percent for the previous year period.
Operating loss for the quarter was $4.22 million, compared with an operating loss of $6.49 million in the previous year period.
"I am pleased to announce another year of continued strong financial results for the Company and significant progress with a number of our pipeline initiatives which include both internally developed products as well as partnered programs utilizing our device technology," said Robert F. Apple, president and chief executive officer of the Company. "Record full year 2016 revenue is the result of the launch of Sumatriptan Injection USP, continued growth of OTREXUP and significant development revenue generated from our alliance business. In addition, the filing of a New Drug Application for QST with an October 2017 action date was the highlight of our successes in the past year. We look forward to 2017 and beyond as we anticipate the potential for a number of internal and partnered combination drug-device product approvals over the coming years."
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