logo
  Join        Login             Stock Quote

MAP Pharmaceuticals (MAPP) Q4 Loss Narrows, Levadex Expenses Drop

 March 29, 2012 07:21 AM
 


MAP Pharmaceuticals Inc. (NASDAQ:MAPP), whose migraine drug candidate failed to get regulatory approval, reported a narrower loss for the fourth quarter.

Net loss was $13.8 million or $0.45 per share for the fourth quarter, compared with a loss of $13.9 million or $0.46 per share in the year-ago quarter.

MAPP attributed the narrower loss to recognition of a $20.0 million milestone payment received in August 2011 and amortization of a $60.0 million non-refundable upfront cash payment received in February 2011.

Earlier this week, the U.S. Food and Drug Administration (FDA) rejected the company's potential migraine treatment Levadex. The U.S. health regulators has asked MAP to address issues related to chemistry, manufacturing and controls before it can take a decision on approving Levadex.

[Related -Stocks Close Higher Amid Earnings; Coach (COH) Tumbles]

Quarterly revenue was $0.8 million, versus nil revenue in the same period of last year.

Total operating expenses increased 6.6 percent to $14.6 million. R&D expenses declined 17 percent due mainly to a decrease in expenses related to the Levadex program.

As of December 31, 2011, MAPP had cash and cash equivalents of $98.8 million, compared with $76.0 million as of December 31, 2010. 

The stock, which has been trading in the 52-week range between $10.54 and $17.92, ended Wednesday's regular trading session at $16.19.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageApple Inc. (AAPL) Q3 Earnings Preview: A Hiccup in Sentiment?

Apple Inc. (NASDAQ:AAPL) will post its third-quarter 2014 financial results and business after the market read on...

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.