XenoPort, Inc. (XNPT) Tops Q2 EPS by 2c; to Increase HORIZANT Sales Force

XenoPort, Inc. (NASDAQ: XNPT) reported Q2 EPS of ($0.31), $0.02 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $5.3 million versus the consensus estimate of $4.38 million.

XenoPort also reported today that it intends to increase the size of its HORIZANT sales force to approximately 65 sales representatives. This decision followed careful evaluation of the potential opportunity to increase HORIZANT sales through an expanded education and promotional effort.

Ronald W. Barrett, Ph.D., chief executive officer of XenoPort, stated, “We believe that our first year of commercialization of HORIZANT has demonstrated that sales can be positively impacted by our promotional efforts. We indicated at the outset of our launch of HORIZANT that we believed our initial focused approach would provide a justification for future expansion. Having achieved HORIZANT’s current positive prescription and revenue growth trends, we believe it is the right time to expand promotion to other regions of the country selected for their potential to produce results similar to the first 40 territories. We hope to have the additional representatives trained and promoting HORIZANT early in the fourth quarter of this year.”

Dr. Barrett continued, “The XP23829 Phase 2 clinical trial in patients with moderate-to-severe chronic plaque-type psoriasis is now underway. We expect to enroll about 200 patients in this study, and we hope to report top-line results in the third quarter of next year. This trial is an important next step in the development of XP23829. It is designed to provide important information about the relationship of XP23829 dose to safety, tolerability, efficacy and immune cell modulation in psoriasis patients. We believe that this information will be relevant to further development not only in psoriasis sufferers, but other conditions, such as relapsing forms of multiple sclerosis (MS).”

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

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