Antares Pharma, Inc. (ATRS) saw its loss widen to $6.12 million, or $0.04 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $5.74 million, or $0.04 a share.
Revenue during the quarter grew 21.59 percent to $13.48 million from $11.09 million in the previous year period. Gross margin for the quarter contracted 1360 basis points over the previous year period to 40.40 percent. Operating margin for the quarter stood at negative 45.52 percent as compared to a negative 52.02 percent for the previous year period.
Operating loss for the quarter was $6.14 million, compared with an operating loss of $5.77 million in the previous year period.
"We are extremely pleased to report another strong quarter of double-digit product revenue growth along with significant progress in our QuickShot testosterone development program. With all clinical work on QST now complete, we remain on track to submit a New Drug Application to the FDA by December 31, 2016," said Robert F. Apple, president and chief executive officer of the Company. "We have also made great progress in the first nine months of 2016 from both a commercial and clinical perspective. I believe our internal development projects coupled with partnered collaborations should provide us with a diversified portfolio of products over the next few years helping to lay the foundation for future growth. Our focus remains on growing top line revenue with continued progress on our pipeline development programs."
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