Ariad Pharmaceuticals Inc fka ARIA

[iandy]

jaybe- From the last earnings call (I think my last response to you was lame):

>Edward M. Fitzgerald

Good morning, everyone, this is Ed Fitzgerald. As noted in our press release issued this morning, second quarter Iclusig net sales were $13.9 million, using the sell-through method of revenue recognition.

As of June 30, we had $3.4 million in deferred revenue, representing Iclusig inventory at specialty pharmacies and specialty distributors, which had not yet shipped to the end customer.

During the second quarter, we shipped $2.4 million of Iclusig to patients in France through the ATU or Temporary Authorization for Use program, which we will not record as revenue until the commercial list price is established in France.

Our net loss for the second quarter of 2013 was $69 million or $0.37 per share, compared to a net loss of $51.3 million or $0.31 per share for the same period in 2012.

Our R&D expenses increased slightly from the second quarter of 2012 to the second quarter of 2013, reflecting cost to support further expansion of our clinical development activities for Iclusig and AP26113, as well as expanded discovery research activities.

Our SG&A expenses increased by $29.9 million from the second quarter of 2012 to the second quarter of 2013, reflecting our investment in the commercial launch of Iclusig in the U.S., preparations for commercial launch of Iclusig in Europe and related activities.

As of June 30, 2013, we reported cash, cash equivalents and marketable securities of $351.9 million compared to $398.3 million at March 31, 2013.

We are revising our 2013 financial guidance at this time, and now we anticipate cash used in operations to be between $245 million and $255 million for the year, a positive variance of approximately $10 million compared to our previous guidance.

Overall, our operating expenses in total, year-to-date, remain largely on target relative to the guidance we provided in February for the year. Our R&D expense -- excuse me, our R&D expenses are tracking below the guidance we provided, and our SG&A expenses are tracking above our guidance, primarily due to the shifting of certain activities and the related costs in medical affairs, manufacturing and supply chain, regulatory and safety, which have historically been included in R&D expenses to SG&A expenses. Therefore, we now expect research and development expenses of $200 million to $208 million; and selling, general and administrative expenses of $152 million to $160 million for the year.

We now expect that our cash, cash equivalents and marketable securities at December 31 will range from $200 million to $210 million, sufficient to advance our programs into the fourth quarter of 2014.<

http://m.seekingalpha.com/article/1614992