Dyax Corp (DYAX) Tops Q4 EPS by 2c

Dyax Corp (NASDAQ: DYAX) reported Q4 EPS of ($0.02), $0.02 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $26 million versus the consensus estimate of $19.9 million.

In 2014, Dyax made significant progress across all our business areas,” said Gustav Christensen, President and Chief Executive Officer of Dyax. “We completed dosing in the Phase 1b study of DX-2930 in HAE patients and expect to report results in April. We saw growth in KALBITOR sales in 2014 along with continued profitability in the KALBITOR business. We also began receiving royalty revenues from the first marketed LFRP product, Lilly’s CYRAMZA®. As we look ahead, we are planning to initiate the Phase 2 trial of DX-2930 in the second half of 2015, and we are expecting a number of other milestone events from the LFRP.”

Financial Guidance for 2015

• Revenue guidance includes two components:
  • KALBITOR net sales in the range of $60-70 million, reflecting the Company’s expectation that quarterly and annual KALBITOR net sales will fluctuate due to continued volatility in the level of KALBITOR utilization for individual patients. This volatility in utilization rates is due to fluctuations in the number of HAE attacks experienced by patients and the consistency with which patients treat their HAE attacks with KALBITOR.
  • Development and license fees in the range of $7-9 million. These fees exclude all potential royalties which would be earned from licensees’ sales of LFRP product.
• Operating costs and expenses (cost of product sales, research and development expenses, and selling, general and administrative costs) to be in the range of $105-110 million.

For earnings history and earnings-related data on Dyax Corp (DYAX) click here.

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