Tuesday, integrated dermatology pharmaceutical company DUSA Pharmaceuticals, Inc. (DUSA) reported a wider loss for the second quarter, reflecting lower revenues.
For the quarter, the Wilmington, Massachusetts - based company reported a net loss of $852.71 thousand or $0.04 per share, wider than $138.79 thousand or $0.01 per share in the same quarter last year.
Loss, adjusted to consideration provided to the former Sirius shareholders, and the non-cash change in fair value of warrants, widened to $0.4 million or $0.02 per share from $0.2 million or $0.01 per share a year ago.
Quarterly product revenues declined 14% to $6.97 million from $8.11 million in the previous year, impacted by the the loss of Nicomide sales.
For the quarter, total PDT Drug & Device product revenues increased to $6.42 million from $5.43 million, while total non-PDT product revenues plunged to $0.55 million from $2.68 million in the prior year.
For the six-month period, net loss widened to $2.46 million or $0.10 per share from $1.42 million in the comparable period a year ago. Adjusted loss was $1.7 million or $0.07 per share, wider than $0.9 million or $0.04 per share a year ago.
Year-to-date, product revenues was $14.10 million, lower than $16.04 million in the previous year.
Looking ahead, Robert Doman, president and chief executive officer, said, "For the second half of the year, we expect to see expanded adoption of our therapy by the marketplace. While we expect that adverse economic conditions will negatively impact the international markets and the non-reimbursed cosmetic/medi spa segment of our business in the U.S., the medical dermatology segment of our business continues to demonstrate robust growth."
DUSA closed Monday's regular trading at $1.20 on the Nasdaq.
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