Anacor Pharma Q3 Beats on Revenues, Misses on Net
Nov 7th 2013 11:48PM
Updated Nov 7th 2013 11:50PM
Anacor Pharmaceuticals is still in need of some bottom-line healing, if its Q3 results are any indication. The company said it posted $3.6 million in total revenues for the quarter, which was an improvement over the $2.5 million in the same three-month period the previous year. However, net loss widened over that span of time to $16.8 million ($0.41 per diluted share) from the year-ago Q3's shortfall of $14.4 million ($0.46).
On average, analysts had expected revenue of $2.7 million and a per-share loss of $0.39.
The company provided selected forward guidance for the entirety of fiscal 2013. It expects to end the year with at least $160 million in cash, cash equivalents, short-term investments, and restricted investments, which should "be sufficient to meet our anticipated operating requirements for at least the next twelve months." These funds include the monies that are to be paid to the company from last month's arbitration proceeding against Valeant Pharmaceuticals.
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