Dyax (DYAX) Reports KALBITOR Q3 Gross Sales of $12.5M

October 9, 2013 6:40 AM EDT
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Dyax (Nasdaq: DYAX) is providing preliminary KALBITOR sales information for the third quarter ended September 30, 2013:

• KALBITOR gross sales in the third quarter 2013 were $12.5 million; subject to final adjustments for gross to net sales data, net sales are estimated to be in a range of $10.5 - 11.0 million;

• the increase in KALBITOR patient demand units (units sold by distributors to hospitals or patients) in the third quarter of 2013 over the second quarter of 2013 is expected to be in a range of 5% to 7%, and the increase over the third quarter of 2012 is expected to be in a range of 8% to 10%;

• KALBITOR gross sales in the quarter reflect an estimated reduction of approximately $600,000 to $900,000 in the distributor channel inventory as a result of an estimated 8% to 12% reduction in the number of KALBITOR units in that inventory since the end of the second quarter of 2013.

The KALBITOR business remained cash flow positive and continued to support development of the Company's internal pipeline.

Final net sales, patient demand and inventory channel amounts are subject to change and will be finalized when distributors provide their final and complete data for the quarter and Dyax releases it final results for the quarter.

Cash, cash equivalents and short-term investments totaled approximately $47 million at September 30, 2013.

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