Antares Pharma Q1 Loss Narrows

(RTTNews) - Antares Pharma Inc. (ATRS) reported that its net loss for the first quarter of 2017 narrowed to $4.7 million or $0.03 per share from $7.7 million or $0.05 per share in the comparable period in 2016.

Revenue was $12.0 million for the three months ended March 31, 2017, compared to $12.3 million for the comparable period in 2016.

Product sales represent sales of our proprietary products and devices or device components to partners. Product sales were $10.0 million for the three months ended March 31, 2017, compared to $10.8 million for the comparable period in 2016. The decrease in product sales was primarily driven by a reduction in sales of pre-launch quantities of auto injector devices for use with Teva's generic epinephrine product, partially offset by increased sales of Sumatriptan Injection USP and OTREXUP.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share and revenues of $12.33 million. Analysts' estimates typically exclude special items.