Repligen Corp., a biopharm company focused on developing and marketing drugs for the neurology and gastroenterology fields, posted financial results for the fourth quarter and fiscal year 2011, ended March 31, 2011.
Total revenue for the fourth quarter of fiscal year 2011 was $5.9 million compared to $4.8 million reported for the same period in fiscal year 2010.
The company reported a net loss for the fourth quarter 2011 at $2.0 million, or $(0.06) per diluted share, compared to a net loss of $1.6 million, or $(0.05) per diluted share, in the same period in fiscal year 2010.
Total revenue for the fiscal full year 2011 increased 30 percent to $27.2 million compared to total revenue of $20.9 million for fiscal year 2010.
Repligen reported a net loss for the year at $44,000, or $0.00 per diluted share, compared to a net loss of $4.0 million, or $(0.13) per diluted share, in the prior year.
Cash and investments as of March 31, 2011, were $61.5 million compared to $59.1 million reported for the year ended March 31, 2010.
The company spent the last 12 months on business expansion and on preparing one of its drug candidates for a New Drug Application (NDA) with the U.S. Food and Drug Administration.
“During the past year, we advanced our product candidate RG1068 toward an NDA filing and expanded our bioprocessing business,” Walter C. Herlihy, president and CEO of Repligen stated in the press release. “We look forward to gaining marketing approval for RG1068 and pursuing the acquisition of additional assets to expand our revenue base.”
The company offered guidance for fiscal year 2012, which started on April 1, 2011, and will end on March 31, 2012, increasing its total revenue expectations to range between $29 million and $31 million.
Repligen expects a net loss for 2012 of approximately $3 million and a cash burn of approximately $2 million.
For more information visit www.repligen.com