Antares Pharma Q2 Net Loss Narrows, Revenues Rise - Quick Facts

(RTTNews) - Antares Pharma Inc. (ATRS) reported Tuesday that its second-quarter net loss was $2.8 million, compared to $6.06 million last year. Net loss per share was $0.02, compared to loss of $0.05 a year ago.

Gross profit increased to $7.8 million from $4.9 million last year, primarily attributable to the increase in profit recognized on development activities completed and the recognition of $1.0 million in licensing fees for which there was no associated cost.

Revenue was $13.4 million, up 10 percent from $12.2 million last year.

On average, five analysts polled by Thomson Reuters expected loss of $0.03 per share on revenues of $12.51 million for the quarter. Analysts' estimates typically exclude special items.

In the quarter, total product sales declined 15 percent from last year to $7.34 million. This was offset by development revenue growth of 47 percent, increase in royalties of 14 percent and significant growth in licensing revenue.