Pharmaceutical company NeurogesX, Inc. (NGSX) reported Thursday a fourth-quarter net loss of $10.2 million or $0.34 per share, narrower than last year's loss of $12.4 million or $0.69 per share.
On average, 3 analysts polled by Thomson Reuters expected the company to report a loss of $0.41 per share for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues for the quarter increased to $3.0 million from $2.3 million last year. Analysts expected revenues of $3.01 million for the quarter.
The revenues consisted of $2.2 million in collaboration revenue, primarily from amortization of upfront license fees received under the Astellas agreement, and $0.8 million or Qutenza product sales.
On March 7, the company received a complete response letter from the United States Food and Drug Administration, or FDA, in response to the supplementary new drug application for Qutenza for the management of pain associated with HIV associated peripheral neuropathy.
The company announced a restructuring of its operations to minimize cash burn, align commercial operations spending with near term Qutenza revenue expectations and preserve cash resources. It said the restructuring will result in a 57 percent reduction of its workforce. The company expects that 2012 operating expenses, excluding non-cash stock related expenses, will decrease by 32 percent from previously planned levels.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.