Specialty pharma firm Antares Pharma (ATRS) pared down its losses in the fourth quarter due to reduced R&D expenses. The company reported a loss of $3.7 million or $0.02 per share compared to $4.4 million or $0.03 per share in the prior year period. Sales declined marginally by 1% to $14 million.
On the products front, OTREXUP sales improved 17% to $4.8 million and auto injector devices sales more than doubled to $3.1 million. Development revenues decreased to $2.2 million as products under development is getting ready for market launch. With its partner AMAG Pharmaceuticals’ Makena product getting FDA approval, the company expects its top line to improve in 2018 as AMAG uses Antares’ QuickShot auto injector.
For fiscal 2017, sales improved 4% to $54.5 million, while net loss reduced to $16.7 million compared to $24.2 million, helped by reduced expenses.
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