Press Release: Osiris Therapeutics Announces First Quarter 2015 Financial Results
8. Mai 2015 15:00
Osiris Therapeutics Announces First Quarter 2015 Financial Results
COLUMBIA, Md.--(BUSINESS WIRE)--May 08, 2015--
Osiris Therapeutics, Inc. (NASDAQ: OSIR), the leading cellular and regenerative medicine company focused on developing and marketing products to treat conditions in wound care, orthopaedics and sports medicine, announced today its financial results for the first quarter of 2015.
Highlights and Recent Developments
-- Increased product revenue for the quarter to $21.0 million - a 109%
increase over Q1 2014.
-- Gross margin remained consistent at 78%.
-- Completed the quarter with after-tax income from operations of $1.4
million or $0.04 per share.
-- Launched BIO4 (TM) in collaboration with Stryker at the American Academy
of Orthopaedic Surgeons.
-- Increased coverage to 40 million Medicare lives, 21 million Medicaid
lives and initiated commercial coverage for 37 million lives for
Grafix(R).
-- Ended the quarter with $101.6 million of total assets.
"I am encouraged by the continued growth of our business, despite the changing market dynamics we experienced in the first quarter," said Lode Debrabandere, Ph.D., President and Chief Executive Officer. "During this quarter, our business completed the transition from Ovation(R) to BIO(4) and also successfully adjusted to the CMS bundled-payment system inclusion of Grafix. The wound care business continues to gain momentum, supported by the expansion of Medicare, Medicaid and commercial insurance coverage."
First Quarter Financial Results
Product revenues during the first quarter of 2015 were $21.0 million, compared to $10.1 million during the first quarter of 2014, an increase of 109%. Gross margin during the first quarter remained the same as the first quarter of 2014 at 78%. Gross profit was $16.4 million during the first quarter of 2015 and $7.8 million during the same period of 2014. The net income from continuing operations was $1.4 million in the first quarter of 2015 after recognizing income taxes of $0.6 million. As of March 31, 2015, Osiris had $101.6 million of total assets.
Research and development expenses for the first quarter of 2015 were $1.6 million, increased from the $0.7 million incurred in the first quarter of 2014. As a result of our increased commercial activity, our selling, general and administrative expenses were $12.8 million for the first quarter of 2015, compared to $7.2 million for the same period of the prior year.
Conference Call
A webcast and conference call to discuss the financial results is scheduled for today, May 8, at 9:00 a.m. ET. To access the webcast, visit the Investor Relations section of the company's website at
http://investor.osiris.com/events.cfm. Alternatively, callers may participate in the conference call by dialing (877) 303-6133 (U.S. participants) or (970) 315-0493 (international participants).
An archive of the webcast will be available approximately two hours after the completion of the call. To access the archived webcast, visit the Investor Relations section of the company's website at
http://investor.osiris.com/events.cfm.
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allerdings habe ich mutig (oder töricht) bei Tiefstkursen und offensichtlich gleichzeitig guter Entwicklung des Hauptinvestments Osiris (OSIR in NY), das per 15.3. knapp 70% des NAV ausmacht, noch etwas aufgestockt...
