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DURA PHARMACEUTICALS REPORTS FIRST QUARTER 1993 OPERATING RESULTS; SALES UP 82 PERCENT

 SAN DIEGO, April 20 /PRNewswire/ -- Dura Pharmaceuticals Inc. (NASDAQ-NMS: DURA) today announced that sales for the first quarter of 1993 were up 82 percent over the same period in 199first quarter ended March 31, 1993, Dura reported revenues of $3,597,000, compared to $1,977,600 in the first quarter of 1992, and a net loss for the quarter of $1,979,700, or $.26 per share, compared to a loss of $1,045,200, or $.15 per share, in the first quarter of 1992. The loss for the first quarter of 1993 includes a one-time charge of approximately $.04 per share for expenses relating to the recent relocation of Dura's corporate headquarters. The company's gross profit margin increased to 73 percent in the first quarter of 1993, from 67 percent for the same period in 1992, primarily because of a higher level of pharmaceuticals in the product mix.
 The sales gain was primarily because of an increase in the size and productivity of the company's sales force. At the end of the quarter, Dura's sales force stood at 120 representatives. Also, first quarter sales benefited from Tornalate(R) (bitolterol mesylate) Inhalation Solution 0.2 percent and Tornalate(R) Metered Dose Inhaler, which Dura began marketing in the third quarter of 1992.
 "This was a terrific quarter for Dura," stated Cam Garner, Dura president and chief executive officer. "Pharmaceutical sales increased 95 percent due to the increased productivity of our established salespeople and the addition of 75 new representatives in 1992. While the addition of new representatives should drive future sales growth, expenses associated with expansion of the sales force continue to contribute to the company's planned losses in the short term. Generally, Dura expects its new sales representatives to begin generating enough revenue to cover their incremental costs in four to six quarters. Accordingly, as the sales representatives added in the second and third quarters of 1992 become more productive, and as our sales force expansion slows, Dura's overall sales-to-expense ratio should improve."
 Garner added, "The relocation of our corporate facilities to expanded space is an extremely important move that will support our anticipated future growth. And, while the relocation increased our expenses for the period, we expect the investment to enhance our future operating efficiency and performance."
 Garner also provided an update on the company's product development pipeline. Dura's Dry Powder Inhaler, a novel drug delivery system, continues to produce excellent in vitro test results. To advance development of its Dry Powder Inhaler, Dura has engaged the services of two prestigious research organizations. SRI International has agreed to design enhancements of specific delivery system components and evaluate certain manufacturing processes, and Virginia Commonwealth University has agreed to conduct research to determine optimal drug formulations to be used in the device. Before the dry powder drug delivery system can be marketed, additional drug delivery system development will be required. Dura will initially develop five drugs for use in its Dry Powder Inhaler. The potential U.S. market that could be addressed by those drugs in Dura's and other dry powder inhaler drug delivery systems is estimated to exceed $1 billion by 2002.
 The company is also developing Aspire(TM), a portable, low-cost spirometer for asthmatics which is designed to enable patients to monitor their disease at home and manage their asthma more effectively. Recently, final production unit testing revealed performance variations which the company believes are attributable to software programming errors. However, the company is reprogramming the software and expects to complete validation and submit a 510(k) application with the Food and Drug Administration for permission to market the product in 1993.
 Regarding Pentyde(R) Nasal Spray, a proprietary nasal spray for the symptomatic relief of seasonal allergic rhinitis (hay fever), Dura is awaiting FDA response to its amended NDA submitted to the FDA in December 1992. Also, a clinical trial has commenced on Pentyde(R) Ophthalmic Solution, a proprietary solution being developed for the symptomatic relief of allergic conjunctivitis. The clinical trial is being conducted and is expected to be completed by year-end, in anticipation of a further submission to the FDA. Dura has licensed the North American rights to Pentyde Ophthalmic to Bausch & Lomb.
 There are no assurances that the FDA will approve Dura's products in the development pipeline.
 Dura Pharmaceuticals Inc. is a San Diego-based developer and marketer of prescription pharmaceutical products, drug delivery systems and medical devices for the treatment of allergies, asthma and related respiratory conditions.
 DURA PHARMACEUTICALS INC.
 First Quarter Results
 Three Months Ended
 March 31,
 1993 1992
 Sales $3,597,000 $1,977,600
 Cost and expenses
 Cost of sales 957,100 655,100
 Clinical, development and regulatory 352,400 246,200
 Gen. admin. and marketing 4,059,100 2,049,300
 Goodwill 40,600 66,300
 Other 167,500 5,900
 Net loss ($1,979,700) ($1,045,200)
 Net loss per share (.26) (.15)
 Weighted average common shares 7,489,771 6,758,834
 Summary Balance Sheet Data
 March 31, 1993 March 31, 1992
 Cash and marketable securities $9,474,300 $23,398,900
 Other current assets 3,073,400 2,233,800
 Other assets 11,327,700 1,779,400
 Total $23,875,400 $27,412,100
 Current liabilities $2,711,500 $2,103,100
 Long-term debt 4,751,900 1,512,200
 Shareholders' equity 16,412,000 23,796,800
 Total $23,875,400 $27,412,100
 -0- 4/20/93
 /CONTACT: James W. Newman, VP-finance and administration of Dura Pharmaceuticals, 619-457-2553/
 (DURA)


CO: Dura Pharmaceuticals Inc. ST: California IN: MTC SU: ERN

LS-JL -- SD004 -- 7790 04/20/93 08:37 EDT
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