Originally published at www.seclive.com
Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL) announced its first quarter financial results for the fiscal year 2014, posting a 33% jump in revenue from last year. The specialty biopharmaceutical company saw a dramatic 76% decrease in revenue with its Testim testosterone gel, which the company attributes at least in part to communications with the Food and Drug Administration and medical journals warning of the health risks associated with similar products. Additionally, litigation advertising and litigation against companies, including Auxilium, are estimated to have significant negative impacts on sales. Revenue jumped from $66.2M to $88.5M while the company posted a widening net loss of $19.4M and $0.39 per share, from $2.3M and $0.05 losses per share last year. President and CEO Adrian Adams remarked that the though the Testim developments were disappointing, the releases of some of its new products were very promising.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.