$1.5 million doesn't sound like a lot to me and fourth quarter sales
are expected to be similar to third quarter sales.
I think this paragraph likely contributed to the selloff...
''As a result of the third quarter sales of GLIADEL(R), our polymer product for brain cancer, Guilford received $1.5 million in revenues from our marketing partner Rhone-Poulenc Rorer, consisting of both
product sales and royalties on end-user sales,'' continued Dr. Smith. ''For the fourth quarter, we anticipate slightly reduced product sales to RPR and increased royalties from end-user sales resulting in
total GLIADEL(R)-related revenues similar to the amount received in the third quarter. Based on recent market research conducted by RPR, out of a total of approximately 20,000 surgeries per year for
primary brain cancer, we currently estimate that there are approximately 2,500 to 3,500 patients annually in the U.S. eligible for the labeled indication (recurrent glioblastoma multiforme), and 5,000 to 7,000 patients annually who undergo initial surgery for malignant glioma. |
