Aegerion stock continues to climb after full-year financials


Carolina Alarco, vice president and general manager, International at Aegerion Pharmaceuticals

Carolina Alarco, vice president and general manager, International at Aegerion Pharmaceuticals

In its first quarterly earnings report since becoming a commercial-stage drug company, Aegerion Pharmaceuticals Inc. (Nasdaq:AEGR) said it expects to be pulling in $100 million in revenues by the second half of 2014, and to break even in its cash flow from operations.

The Cambridge, Mass.-based drug company’s stock has been on a steady rise since mid-October, when an advisory panel to the U.S. Food and Drug Administrationvoted in favor of approving its novel drug, lomitapide, for use in patients with a rare, genetic cholesterol disorder called homozygous familial hypercholesterolemia (HoFH). The company received final approval from the FDA in December, and launched the drug under the name, Juxtapid.

On Wednesday, the rise continued as its stock jumped 5 percent to $36.33 as of 2 p.m. It has now risen 90 percent since the Oct. 18, 2012 news of the FDA advisory board vote, and 20 percent in just the last five days, thanks in part to favorable ratings from analysts. According to the Jags Report, the Jefferies Group started coverage on Aegerion with a ‘buy’ rating on Monday, at the same time Bank of America started coverage with a ‘buy’ rating and a $39 price target.

For the full year of 2012, the company reported on Wednesday that it saw a net loss of $62 million, and total assets of $85 million. For the coming year, the company said it expects global net revenues of $15 million to $25 million.

“2012 was an important year for Aegerion, and more importantly, for HoFH patients,” said CEO Marc D. Beer in a statement. “Following FDA approval, we are focused on strong commercial execution. We are very pleased with the early acceptance of Juxtapid with over 400 REMS trained physicians and 85 prescriptions globally to date. The initial ramp of our commercial launch is on track to achieve our previously stated guidance of 250-300 patients globally on therapy by the end of 2013.”

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