Medicure Reports Second Quarter Financial Results for Fiscal 2014
WINNIPEG, MANITOBA--(Marketwired - Jan 28, 2014) - Medicure Inc.
("Medicure" or the "Company") (TSX-VENTURE:MPH)(OTCQB:MCUJF), a
specialty pharmaceutical company, today reported its results from
operations for the second quarter ended November 30, 2013.
Financial Results
Net revenue from the sale of AGGRASTAT finished product for the
three months ended November 30, 2013 increased by 21% to $871,000
from $721,000 for the three months ended November 30, 2012.
The increase in revenue for the three months ended November 30,
2013 compared to the same period in the prior year is primarily
attributable to an increase in the number of new hospital customers
using AGGRASTAT, which is driving an overall increase in hospital
and wholesale demand. The increase in revenue is also partially
attributable to fluctuations in currency values.
Net loss for the three months ended November 30, 2013 was
consistent at $486,000 or $0.04 per share, when compared to
$493,000 or $0.04 per share for the three months ended November 30,
2012. The net loss in the current period is partially driven by an
increase in expenses related to business development activities of
the Company.
Net revenue for the first six months ended November 30, 2013
increased by 17% to $1,618,000 compared to $1,388,000 for the six
months ended November 30, 2012. The increase is primarily
attributable to an increase in hospital demand.
Net loss for the first six months ended November 30, 2013
increased to $989,000 or $0.08 per share, when compared to $790,000
or $0.06 per share for the six months ended November 30, 2012.
At November 30, 2013, the Company had cash totalling $9,000
compared to $127,000 as of May 31, 2013. The decrease in cash is
primarily due to the increased net loss. Cash flows used in
operating activities for the three months ended November 30, 2013
were $3,000, compared to $178,000 for the three months ended
November 30, 2012. The decrease in cash flows used in operating
activities is as a result of inventory purchases made during the
three months ended November 30, 2012 and higher accounts payable at
November 30, 2013.
All amounts referenced herein are in Canadian dollars unless
otherwise noted.
Product Developments
On October 11, 2013 the Company announced that the United States
Food and Drug Administration (FDA) has approved the AGGRASTAT
high-dose bolus (HDB) regimen, as requested under Medicure's
supplemental New Drug Application (sNDA).
Conference Call Information
There will be a conference call with management. Details are as
follows:
Topic: Medicure's Second Quarter Ended November 30, 2013
Results Call |
Date: Wednesday, January 29, 2014 |
Time: 8:00 am, Central Time (9:00 am, Eastern Time) |
To access the call within Canada and the United States dial toll
free 1-866-512-0904/Passcode 3554487#. International callers may
access the call at 1-416-507-9740/Passcode 3554487# or you may
request country specific international access info by emailing us
in advance at info@medicure.com.
Management will accept and answer questions related to the
financial results and its operations during the Q&A period at
the end of the conference call. Questions may be forwarded in
advance or during the presentation to info@medicure.com.
About AGGRASTAT
Indications and Usage
AGGRASTAT is indicated to reduce the rate of thrombotic
cardiovascular events (combined endpoint of death, myocardial
infarction, or refractory ischemia/repeat cardiac procedure) in
patients with non-ST elevation acute coronary syndrome
(NSTE-ACS).
Dosage and Administration
Administer intravenously 25 mcg/kg over 3 minutes and then 0.15
mcg/kg/min for up to 18 hours. In patients with creatinine
clearance ≤60 mL/min, give 25 mcg/kg over 3 minutes and then 0.075
mcg/kg/min.
Warnings and Precautions
Bleeding is the most common complication encountered during
therapy with AGGRASTAT. Most bleeding associated with AGGRASTAT
occurs at the arterial access site for cardiac catheterization.
Minimize the use of traumatic or potentially traumatic procedures
such arterial and venous punctures, intramuscular injections,
nasotracheal intubation, etc. Fatal bleeding events have been
reported. Concomitant use of fibrinolytics, oral anticoagulants and
antiplatelet drugs increases the risk of bleeding.
Profound thrombocytopenia has been reported with AGGRASTAT.
Monitor platelet counts beginning about 6 hours after treatment
initiation and daily thereafter. If the platelet count decreases to
<90,000/mm3, monitor platelet counts to exclude
pseudothrombocytopenia. If thrombocytopenia is confirmed,
discontinue AGGRASTAT and heparin. Previous exposure to a
glycoprotein (GP) IIb/IIIa receptor antagonist may increase the
risk of developing thrombocytopenia.
Please refer to Full Prescribing Information.
About Medicure Inc.
Medicure is a specialty pharmaceutical company focused on the
development and commercialization of novel small molecule
therapeutics. The primary focus of the Company and its subsidiaries
is the marketing and distribution of AGGRASTAT (tirofiban HCl) for
non-ST elevation acute coronary syndromein the United States, where
it is sold through the Company's US subsidiary, Medicure Pharma,
Inc. For more information on Medicure please visit
www.medicure.com.
To be added to Medicure's e-mail list, please visit:
http://medicure.com/newsreleases.html.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking
Information: Statements contained in this press release that
are not statements of historical fact, including, without
limitation, statements containing the words "believes", "may",
"plans", "will", "estimates", "continues", "anticipates",
"intends", "expects" and similar expressions, may constitute
"forward-looking information" within the meaning of applicable
Canadian and U.S. federal securities laws (such forward-looking
information and forward-looking statements are hereinafter
collectively referred to as "forward-looking statements").
Forward-looking statements are based on the current assumptions,
estimates, analysis and opinions of management of the Company made
in light of its experience and its perception of trends, current
conditions and expected developments, as well as other factors
which the Company believes to be relevant and reasonable in the
circumstances. Inherent in forward-looking statements are known and
unknown risks, uncertainties and other factors beyond the Company's
ability to predict or control that may cause the actual results,
events or developments to be materially different from any future
results, events or developments expressed or implied by such
forward-looking statements, and as such, readers are cautioned not
to place undue reliance on forward-looking statements. Such risk
factors include, among others, the Company's future product
revenues, stage of development, additional capital requirements,
risks associated with the completion and timing of clinical trials
and obtaining regulatory approval to market the Company's products,
the ability to protect its intellectual property, dependence upon
collaborative partners, changes in government regulation or
regulatory approval processes, and rapid technological change in
the industry. Such statements are based on a number of assumptions
which may prove to be incorrect, including, but not limited to,
assumptions about: general business and economic conditions; the
impact of changes in Canadian-US dollar and other foreign exchange
rates on the Company's revenues, costs and results; the timing of
the receipt of regulatory and governmental approvals for the
Company's research and development projects; the availability of
financing for the Company's commercial operations and/or research
and development projects, or the availability of financing on
reasonable terms; results of current and future clinical trials;
the uncertainties associated with the acceptance and demand for new
products and market competition. The foregoing list of important
factors and assumptions is not exhaustive. The Company undertakes
no obligation to update publicly or otherwise revise any
forward-looking statements or the foregoing list of factors, other
than as may be required by applicable legislation. Additional
discussion regarding the risks and uncertainties relating to the
Company and its business can be found in the Company's other
filings with the applicable Canadian securities regulatory
authorities or the US Securities and Exchange Commission, and in
the "Risk Factors" section of its Form 20F for the year ended May
31, 2013.
Medicure Inc.Dawson ReimerPresident &
COO888-435-2220204-488-9823info@medicure.comwww.medicure.com
Grafico Azioni Medicure (PK) (USOTC:MCUJF)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Medicure (PK) (USOTC:MCUJF)
Storico
Da Giu 2023 a Giu 2024