Trimeris Triples Income, Reaffirms Guidance on Profitability
Posted May 11, 2006 7:19 a.m. EDT
MORRISVILLE, N.C. — With sales of its AIDS drug Fuzeon growing, pharmaceutical firm
reported a tripling of revenue on Wednesday.
Trimeris (Nasdaq: TRMS) also reaffirmed guidance that it expected to be profitable in 2006.
Revenues climbed to $7.4 million, up $5.3 million from a year earlier. Trimeris cut its losses to $428,000, or 2 cents a share, from a loss of $5.5 million in 2005.
Sales of Fuzeon hit $55.4 million in the first quarter, a 31 percent increase from a year earlier. Trimeris shares Fuzeon revenues with its manufacturing partner Roche.
The company reiterated a forecast of Fuzeon sales increasing to $140 -$150 million in North America this year as well as achieving profitability.
Trimeris shares closed at $11.26, down 20 cents, on Wednesday.