Juniper Pharmaceuticals Inc (NASDAQ:JNP) reported its financial results for the fourth quarter that showed a wider net loss and missed Wall Street analysts’ estimations. The company’s top line rose marginally but also fell shy of analyst expectations. The drug company indicated that it was well placed to fund its current year operations along with planned R&D activities completely with its cash flow from its base business and cash on hand.
Juniper reported a net loss of $2.1 million or a loss of 19 cents a share in the fourth quarter. That was wider than a net loss of $0.5 million or a loss of 5 cents a share in the year-ago quarter. Wall Street analysts expected the company to incur a loss of two cents a share.
The company’s total revenues grew 4.11% to $7.6 million from $7.3 million in the previous year quarter. The pharmaceutical firm said that it witnessed lower product revenues and royalties in the December quarter compared to the preceding year period. However, an increase in service revenue of $1.5 million partly offset that. Its revenue fell shy of the Street analysts’ predictions of $7.89 million. While gross profit advanced to $3.0 million from $2.8 million, total operating costs were higher by $1.5 million in the fourth quarter. Juniper attributed this to increased R&D spending and general and administrative expenses.
Potential Launch Of Three Products
The company’s CEO Frank Condella said that Juniper may launch three new products in the next five-years as a result of the successful execution of its current operating plans. He also indicated that the three products provided a combined opportunity of generating more than $1 billion.
Condella termed the year 2015 as a transformative one for the company with strong results in each aspect of its business. Condella said that it could make significant progress in advancing COL–1077 10% lidocaine gel for treating pain associated with minimally-invasive gynecologic procedures. He indicated that the results of this double-blinded Phase 2b trial could be expected in the third quarter.