Discovery Laboratories, Inc.(NASDAQ:DSCO) Reports Increase In Quarterly Net Loss


Dallas, Texas 03/20/2014 (FINANCIALSTRENDS) – Discovery Laboratories, Inc., during its quarterly earnings announcement has reported a net loss of $11.7 million ($0.16 per share) this quarter compared to a net loss of $6.8 million ($0.16 per share). The operating loss of for the quarter was reported at $10.3 million compared to $12.4 million for the comparable period in 2012. The Cash and cash equivalents were $86.3 million at end of December 31, 2013. The Company also closed a public offering of 28.75 million shares of common stock with a price of $2.00 per share resulting around $54 million. After the commercialization of SURFAXIN, the company received the remaining $20 million during December 2103 as part of the $30 million from Deerfield Management Co., L.P. The $ 30 million of long-term debt will be repayable to Deerfield in three installments starting 2017.

During the quarter, the company launched SURFAXIN commercially and it is also reported the company had shipped approximately $140,000 of SURFAXIN to its specialty distributor. According to the reports, for SURFAXIN sales revenue recognition, the company will use sell-through method and for the 4Q2013, and with the Company’s revenue recognition policy, SURFAXIN sales reporting has been deferred. SURFAXIN is the only substitute to animal-derived surfactants available in the U.S and first FDA-approved synthetic, peptide-containing surfactant.

Discovery Laboratories, Inc.(NASDAQ:DSCO) EPS Matches Consensus Estimate

Discovery Laboratories (NASDAQ:DSCO) in its quarterly earnings announced an EPS of $0.16 earnings per share meeting consensus estimate of $0.16. The company with market cap of 134.79M currently has a 1-year low of $1.50 and a 1-year high of $3.05. According to the reports, the 50 day moving average is $2.4 and its 200-day moving average is $2.26. Market research analysts at Roth Capital have reportedly downed the price target from $6.00 to $5.50.

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