ATRS. EWING, NJ, November 7, 2017 -- Antares Pharma, Inc. (NASDAQ: ATRS) today reported operating and
financial results for the third quarter ended September 30, 2017. The Company reported record
revenue of $15.1 million and a net loss per share of $0.03 for the three months ended September 30,
2017. For the nine months ended September 30, 2017, the Company reported revenue of $40.5
million and a net loss per share of $0.08.
“We are very pleased with the progress of our quarterly financial results as Antares today reported
record revenue driven by a significant increase in product sales, specifically OTREXUP and
Sumatriptan Injection,” said Robert F. Apple, President and Chief Executive Officer of the Company.
He continued, “In the development area, we are disappointed with the outcome of the review of the
XYOSTED new drug application and the delay of the potential product launch. We continue to believe
that we have a viable product in XYOSTED and will be requesting a meeting with the U.S. Food and
Drug Administration to understand and resolve the deficiencies noted in the Complete Response
Letter, and agree upon a path forward for a potential approval.”
Third Quarter 2017 and Recent Highlights
? Reported third quarter 2017 revenue of $15.1 million, loss per share of $0.03 and cash, cash
equivalents and short-term investments of $37.4 million at September 30, 2017.
? OTREXUP® revenue grew 18% sequentially versus the second quarter of 2017 and 18%
versus the third quarter of 2016.
? Sumatriptan Injection USP total prescriptions increased to a 27% share of the migraine auto
injector market in the third quarter of 2017, up from 26% in the second quarter of 2017
according to data from Symphony Health Solutions.
? Announced the sale of the ZOMAJET™ needle-free delivery system to Ferring
Pharmaceuticals for up to $14.5 million. The transaction is subject to certain customary closing
conditions and is expected to be completed by the end of 2018.
? Received a Complete Response Letter from the U.S. Food and Drug Administration (FDA)
regarding the New Drug Application for XYOSTED™ (testosterone enanthate) injection. The
FDA cited two deficiencies related to clinical data. The next step will be to request a meeting
with the FDA to further evaluate the deficiencies and agree on a path forward for a potential
