Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL) reported Wednesday that the company’s fourth-quarter loss narrowed slightly as higher sales of the hormonal condition drug Testim offset increasing costs.
The company lost $11.9 million, or 25 cents per share, compared with a loss of $12.1 million, or 29 cents per share, during the year-earlier period. Revenue rose 38 percent to $48 million from $34.8 million.
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Analysts polled by Thomson Reuters expected a loss of 31 cents per share on revenue of $44.3 million.
Sales of Testim, which treats the hormonal condition hypogonadism, rose 24 percent to $42.3 million in the U.S., and the company received $4.9 million in revenue from sales outside the U.S. Hypogonadism impairs the function of the ovaries or testes.
Costs rose 28 percent to $60.5 million as the company prepared to market Xiaflex, which treats Dupuytren's contracture. The drug was approved by the Food and Drug Administration on Feb. 2. The drug treats
For the full year, the company lost $53.5 million, or $1.22 per share, compared with a loss of $46.3 million, or $1.12 per share, in 2008. Revenue rose to $164 million from $125.4 million.
Looking ahead, the company expects Testim sales in 2010 between $185 million to $195 million. Analysts expect overall revenue of about $233.6 million.
In afternoon trading, shares of Auxilium Pharmaceuticals rose 74 cents, or 2.4 percent, to $32.44.
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