By Business Wirevia The Motley Fool
Filed under: Investing
Pernix Therapeutics Reports Fourth Quarter and Full Year 2012 Financial Results
Completed Acquisition of Cypress Pharmaceuticals and Hawthorn Pharmaceuticals
Completed the Acquisition of Somaxon Pharmaceuticals in March 2013
Announced Plans to Launch Dr. Cocoa, an OTC Chocolate Flavored Cough & Cold Product Line
THE WOODLANDS, Texas–(BUSINESS WIRE)– Pernix Therapeutics Holdings, Inc. (“Pernix” or the “Company”) (NAS: PTX) , a specialty pharmaceutical company, today announced financial results for the fourth quarter and year ended December 31, 2012.
Financial Results
For the fourth quarter of 2012, net revenues were $18.2 million, compared to $21.4 million for the fourth quarter of 2011. Total net product revenues consisted of 53% revenue contribution from branded products and 47% revenue contribution from generic products in the fourth quarter of 2012.
The net loss for the fourth quarter of 2012 was approximately $(1.4) million, or $(0.05) per basic and diluted share, compared to net income of $3.9 million, or $0.15 per basic and diluted share, for the fourth quarter of 2011.
“This past year was a time for investing and building in Pernix’s continued success,” said Cooper Collins, President and Chief Executive Officer of Pernix. “Looking forward in 2013, we are focused on several key objectives that are expected to drive the Company’s future growth, which include the following: integrating Cypress and Hawthorn, re-launching Silenor by our newly-combined Pernix and Hawthorn sales forces, initiating our Phase III clinical trials for our pediatric product, launching Dr. Cocoa, an OTC chocolate flavored cough and cold product for the 2013-2014 cough and cold season, beginning the development of Silenor as an OTC product, and working toward the IND filings of two products in Hawthorn’s pipeline. We are also capitalizing on the synergies of our acquisitions, and improving efficiencies across all of our operations.”