Flexion Therapeutics (FLXN) Tops Q1 EPS by 13c

Flexion Therapeutics (NASDAQ: FLXN) reported Q1 EPS of ($0.43), $0.13 better than the analyst estimate of ($0.56).

As of March 31, 2015, the company had $137.4 million in cash, cash equivalents, and marketable securities compared to $151.6 million as of December 31, 2014.

"The team at Flexion was clearly productive during the first quarter of 2015, as we initiated our international Phase 3 clinical trial for FX006 (an intra-articular, sustained release steroid for the treatment of patients with OA knee pain), and completed enrollment in our first pivotal trial (Phase 2b) for the compound. In addition, we also strengthened our Board of Directors during Q1 with the addition of seasoned pharmaceutical manufacturing executive Scott Canute," said Michael Clayman, M.D., Flexion Therapeutics President and Chief Executive Officer.

"As the year continues, we anticipate announcing data from the first pivotal trial and completing enrollment in our Phase 3 trial, both in Q4. We expect that positive data from these pivotal trials will enable us to submit a New Drug Application (NDA) to the U.S. Food & Drug Administration (FDA) for FX006 in 2016," added Dr. Clayman.

For earnings history and earnings-related data on Flexion Therapeutics (FLXN) click here.

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