Quick Financial Update
On August 1, 2013, Zalicus, Inc. (ZLCS) reported financial results for the second quarter 2013. Total revenues in the quarter were $3.9 million. Revenues consisted of $2.2 million in collaborative payments and $1.7 million in royalties on sales of Exalgo at partner Mallinckrodt (MNK). Collaborative revenue was in-line with our model, whereas royalties from Exalgo exceeded expectations by $0.1 million. We expect Exalgo sales at Mallinckrodt to slowly tick higher throughout the year (we model $7.0 million in royalties in 2013). As of yet, no decision has been made on the entry of a generic Exalgo by the U.S. FDA.
Collaborative payments have been relatively consistent over the past three quarters, coming...
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