XenoPort (XNPT) Misses Q1 EPS by 2c

XenoPort (NASDAQ: XNPT) reported Q1 EPS of ($0.23), $0.02 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $14.1 million versus the consensus estimate of $14.24 million.

Vincent J. Angotti, chief executive officer of XenoPort, stated, “This quarter, we continued to deliver on our key corporate objectives to grow HORIZANT net product sales, secure a partner for XP23829 and manage our expenses appropriately for our growing business. HORIZANT net product sales more than doubled in the quarter compared to the first quarter of last year and we believe there is room for continued strong growth. The anticipated infusion of cash from the Dr. Reddy’s agreement, pending HSR clearance, together with our prudent expense management, further strengthens our belief in our ability to achieve profitability with our current cash resources. In addition, with the anticipated infusion of cash from the Dr. Reddy’s agreement, we are now positioned to potentially accelerate HORIZANT sales growth through additional targeted investments in select underpenetrated regions of the United States that, we believe, represent excellent opportunities to drive sales.”

For earnings history and earnings-related data on XenoPort (XNPT) click here.

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