Trimeris reports first profitable quarter with an 80% loss reduction in latest financials

By Lisa Kerner

Erie, Pa., March 9 - Trimeris, Inc. said it had an 80% reduction in losses in 2005 compared with the prior year, and its first profitable quarter.

The company attributes these results to record worldwide sales of Fuzeon, reaching $208 million, a growth of 54%, in its second full year since launch, according to a news release.

Trimeris reported a net profit for the fourth quarter of 2005 of $3.8 million, or $0.17 per share, compared with a loss of $5.7 million, or $0.27 per share, in the fourth quarter of 2004.

The company's net loss totaled $8.1 million, or $0.37 per share, for the year ended 2005, compared with a loss of $40.1 million, or $1.86 per share, for 2004.

Cash, cash equivalents and investment securities available for sale totaled $36.9 million at Dec. 31, compared with $48.4 million at Dec. 31, 2004.

"Attaining profitability is a significant and transforming event for Trimeris," chief executive officer Steven D. Skolsky said in the release.

"Continued investment in the growth of Fuzeon, efficient use of resources and the progression of the next-generation fusion inhibitor program will be the foundation for significant growth and continued profitability through 2006."

Trimeris is a Morrisville, N.C., biopharmaceutical company engaged in the discovery, development and commercialization of novel therapeutic agents for the treatment of viral disease.

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