Aegerion Pharma Q3 Loss Narrows; Cuts FY14 Product Sales Guidance

(RTTNews) - Aegerion Pharmaceuticals, Inc. (AEGR) reported a net loss for the third quarter of $5.9 million or $0.20 per share, compared to a net loss of $12.5 million or $0.43 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $3.5 million or $0.12 per basic share, compared to an adjusted net loss of $5.0 million or $0.17 per basic share in the prior year quarter.

Net product sales for the third-quarter were $43.7 million, compared with $16.3 million in the third-quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share on revenue of $48.64 million for the third quarter. Analysts' estimates typically exclude special items.

Based upon results to date, the Company now expects to achieve between $150 million and $160 million of net product sales in 2014, revised from the previous expectation of the lower end of the $180 to $200 million range. Analysts currently expect the company to post revenue of $172.91 million for the full year 2014.

Aegerion expects 2015 revenue growth of between 30% and 40% over 2014 projected revenue.