Thursday, December 16, 2010 2:17:30 PM
Trimeris posts flat earnings
Triangle Business Journal - by James Gallagher
Date: Friday, August 13, 2010, 11:04am EDT
Sponsored Links
Image Ad
* Trimeris gets Nasdaq notice
* Pfizer veteran takes over as Trimeris CFO
* Trimeris boosts profit by 30%
* Dani Bolognesi Back in the Lab
* Trimeris, Roche settle HIV drug suit with Novartis
Cost cuts allowed Trimeris Inc. to hold the line of second quarter earnings even as sales of its top drug fell, the drug maker announced.
The Durham-based company (NASDAQ: TRMS) posted earnings of 6 cents per share during the second quarter, the same as a year ago. The company held that profitability despite quarterly revenues falling from $3.6 million a year ago to $3.26 million in 2010.
Sales of HIV-treatment Fuzeon have been falling. Globally, sales totaled $22.7 million during the second quarter of 2010, down from $29.1 million during the same year-ago period. The drop in sales has hit Trimeris’s financials, cutting down royalty revenue to $1.6 million during the quarter, down from $2.1 million during the same year-ago period.
Trimeris was able to reduce its operating expenses to $1.1 million, down from $1.7 million a year ago. However, part of that $1.7 million was a $496,000 one-time payment to release the company from its lease obligations. Without that one-time cost, Trimeris would have earned 8 cents per share during the second quarter of 2009.
Read more: Trimeris posts flat earnings | Triangle Business Journal
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM