Zogenix Inc. (ZGNX) reported that its net loss for the fourth quarter 2012 was $0.6 million, or $0.01 per share, compared to a net loss of $23.7 million, or $0.36 per share, for the fourth quarter 2011.
Adjusted net loss for the quarter was $15.75 million or $0.16 per share, compared to Adjusted net loss $23.23 million or $0.36 per share in the same quarter last year.
Total revenues for the fourth quarter 2012 of $9.5 million consisted solely of net product revenue. During the fourth quarter 2011, total revenues of $7.9 million also included $2.5 million in contract revenue related to the Company's previous co-promotion agreement with Astellas which ended March 31, 2012. Net product revenues for the fourth quarter 2012 of $9.5 million were up 75% from $5.4 million in the fourth quarter 2011.
On average, 6 analysts polled by Thomson Reuters expected the company to report a loss of $0.17 per share on revenues of $9.87 million for the quarter. Analysts' estimates typically exclude special items.
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