Aegerion Pharmaceuticals announced its financial results and business update for the fourth quarter and full year of 2015.
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Q4 total net product sales were $49 million, compared with $51.7 million in the fourth quarter of 2014. Total net product sales for the year ended December 31, 2015 were $239.9 million, compared with $158.4 million for the year ended December 31, 2014.
For the fourth quarter ended December 31, 2015, GAAP net loss was $36.6 million, or $1.26 basic and diluted loss per share, compared with a GAAP net loss of $8.1 million, or $0.29 basic and diluted loss per share, for the same period in 2014.
For the year ended December 31, 2015, GAAP net loss was $73.3 million, or $2.55 basic and diluted loss per share, compared with a GAAP net loss of $39.4 million, or $1.35 basic and diluted loss per share, for the year ended December 31, 2014.
Q4 total operating expenses on a GAAP basis were $65.7 million, compared with $47.9 million for the same period in 2014. For the full year total operating expenses on a GAAP basis were $232.7 million, compared with $170.7 million for the year ended December 31, 2014.
Selling, general and administrative expenses were $54.4 million for the fourth quarter ended December 31, 2015, compared to $37.2 million for the same period in 2014. Selling, general and administrative expenses were $187.9 million for the year ended December 31, 2015, compared to $132.7 million for the year ended December 31, 2014.
Aegerion Pharmaceuticals expects that selling, general and administrative expenses will decrease throughout 2016 as compared to 2015 due primarily to the reduction in the workforce in February 2016 and anticipated reduced legal fees.
Research and development expenses were $11.3 million for the quarter ended December 31, 2015 compared to $10.7 million for the year ended December 31, 2014.
Cash and cash equivalents totaled $64.5 million as of December 31, 2015, compared to $71.7 million as of September 30, 2015.
Third- and fourth-quarter cash each reflect the $25.5 million reclassification into restricted cash as a result of the SVB loan default. ■