Capnia (CAPN) Reports Q2 EPS of $0.25

Capnia (NASDAQ: CAPN) reported Q2 EPS of $0.25, versus ($5.21) reported last year.

"This is an exciting time for Capnia as we move forward with our neonatology, diagnostic and therapeutic platforms. In addition to our commercial-stage business, we have renewed our focus on our high-value therapeutics pipeline. The plans for continuing to move the programs forward are rapidly taking shape," said Anish Bhatnagar, M.D., Chief Executive Officer of Capnia. "The second quarter was marked by the commencement of our first clinical trial evaluating our proprietary nasal, non-inhaled carbon dioxide (nasal CO2) technology for the treatment of patients with cluster headache. We also successfully secured access to up to $10 million through a stock purchase agreement with Aspire Capital which provides us with the resources necessary to fund the development of our pipeline. Looking ahead, we expect to initiate a clinical trial evaluating nasal CO2 for treatment of trigeminal neuralgia in Fall 2015, and determine a path forward for the allergic rhinitis indication."

"CoSense® is the only product of its kind on the market worldwide, and has the potential to have a significant impact on the practice of medicine. With modest revenue in the first two quarters, we recognize that the CoSense sales ramp has been slower than initially expected," said Edward Ebbers, Chief Commercial Officer of Capnia. "We continue to see substantial interest from physicians for adopting this unique technology which will enable them to adhere to the American Academy of Pediatrics (AAP) guidelines and more optimally diagnose and treat newborns with elevated bilirubin. CoSense still remains in the early phase of adoption, and our belief in its long-term opportunity remains unchanged. Our neonatology-focused commercial team continues to execute on its objective of identifying and qualifying target hospitals, raising awareness and driving adoption, all with the goal of accelerating product sales."

For earnings history and earnings-related data on Capnia (CAPN) click here.

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