Transcept Pharmaceuticals Inc. (TSPT) Wednesday reported first-quarter net loss of $10.5 million or $0.56 per share, compared with net loss of $5 million or $0.37 per share last year.
On average, six analysts polled by Thomson Reuters estimated a loss of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.
The company reported royalty revenues of $0.5 million for the quarterly, reflecting Intermezzo net sales generated by Purdue.
This was offset by $6.3 million of contribution by Transcept to an Intermezzo direct-to-consumer advertising campaign led by Purdue, thereby leading to negative revenues of $5.8 million. Meanwhile, the company did not generate any revenues in the prior-year quarter.
Analysts estimated negative revenues of $1.5 million for the quarter.
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