XenoPort, Inc. (XNPT) Misses Q1 EPS by 4c

XenoPort, Inc. (NASDAQ: XNPT) reported Q1 EPS of ($0.36), $0.04 worse than the analyst estimate of ($0.32). Revenue for the quarter came in at $3.4 million versus the consensus estimate of $3.86 million.

Ronald W. Barrett, Ph.D., chief executive officer of XenoPort, stated, “We are pleased with the progress we are making on both HORIZANT and XP23829. We believe our promotional efforts for HORIZANT continue to show positive results. We intend to keep a close eye on our HORIZANT commercialization efforts to maximize the value of this asset to our stockholders. We are also making good progress in advancing our XP23829 clinical development program. Assuming regulatory clearance of the psoriasis IND, we plan to initiate our Phase 2 clinical trial of XP23829 in patients with moderate-to-severe chronic plaque type psoriasis by midyear. Our recent presentations of data at the AAN meeting demonstrate that XP23829 has unique properties that we believe may yield a differentiated product for the treatment of psoriasis and/or relapsing forms of MS.”

Dr. Barrett continued, “With our successful financing in the first quarter, we believe that our operations, including the commercialization of HORIZANT and the advancement of our XP23829 clinical development program, are funded through 2015. We remain committed to a responsible capital allocation strategy that best positions XenoPort for value creation.”

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

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