I redid my short of TRMS yesterday at $14.95. TRMS almost hit the GS number, so I expect the short will do well. It'll be interesting to see what the guidance is.
>>MORRISVILLE, N.C.--(BUSINESS WIRE)--Oct. 20, 2005--Trimeris, Inc. (NASDAQ: TRMS - News) today announced improved third quarter corporate results and the second profitable quarter for the collaboration with F. Hoffmann-La Roche Ltd. ("Roche"), primarily driven by record-setting quarterly sales of the company's HIV/AIDS drug FUZEON.
"The second consecutive quarter of profitability for the collaboration with Roche is an important indicator of increasing adoption and use of FUZEON," said Steven D. Skolsky, Chief Executive Officer of Trimeris. "Strong double-digit sales growth was driven by record-setting prescription levels observed through the third quarter in the U.S., as doctors and their patients increasingly incorporate FUZEON into their treatment regimens."
The company reported a net profit from the collaboration in the third quarter of 2005 of $2.2 million, compared with a loss of $2.3 million in the third quarter of 2004. For the nine months ended September 30, 2005, the company reported a profit from the collaboration of $3.5 million versus a loss of $14.7 million for the nine months ended September 30, 2004. The improvement in earnings reflects progressive growth in FUZEON prescriptions and sales.
Trimeris reported corporate results of a net loss for the third quarter of 2005 of $3.3 million or ($0.15) cents per share, which compared favorably with a loss of $8.3 million or ($0.38) cents per share in the third quarter of 2004. For the nine months ended September 30, 2005, the company reported a net loss of $11.9 million or ($0.55) cents per share versus a loss of $34.4 million or ($1.59) cents per share for the nine months ended September 30, 2004. The improved result was driven by increased FUZEON sales and royalty revenue and decreases in operating expenses.
Net sales of FUZEON in the U.S. and Canada were $28.4 million, up 34.8 percent from $21.1 million in the third quarter of 2004. Net sales of FUZEON outside the U.S. and Canada were $20.5 million, up 56.2 percent from $13.1 million in the third quarter of 2004. All sales of FUZEON are recorded by Roche, Trimeris' collaborative partner.
A live web cast of the Trimeris earnings conference call on October 20, 2005 at 4:30 p.m. Eastern time will be available at trimeris.com. <<
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Cheers, Tuck |
