Aegerion Pharmaceuticals Inc. (AEGR) reported that its fourth-quarter net loss widened to $21.8 million or $0.86 per share, from $13.9 million or $0.66 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report a loss of $0.64 per share for the quarter. Analysts' estimates typically exclude special items.
Research and development expenses for the quarter were $8.6 million, compared to $8.4 million for the same period in 2011. The increase in research and development expenses was primarily related to increased headcount required to support the Company's regulatory and medical affairs activities, as well as costs for production validation runs, partially offset by decreases in clinical trial expenses related to trials which had been substantially completed in 2011.
Selling, general and administrative expenses were $13.1 million for the quarter ended December 31, 2012, compared to $4.3 million for the same period in 2011. The increases in selling, general and administrative expenses were primarily related to costs of increased headcount to support the planned commercial launch of JUXTAPID and in administrative functions.
The company expects total operating expenses, excluding stock-based compensation expense, to be between $75 and $85 million in 2013.
In addition, the company confirmed the previously stated financial guidance. The company expects global net revenues of $15 million to $25 million for fiscal 2013 with 250 to 300 patients on JUXTAPID therapy globally by year-end 2013.
In the second half of 2014, the Company expects to generate global net revenue at a $100 million annualized run rate; and achieve cash flow breakeven from operations.
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