Advancis: third-quarter Keflex product sales double to $2.4 million

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Advancis Pharmaceutical Corp.'s net Keflex product sales doubled to $2.4 million for the third quarter of 2006 from $1.2 million for the third quarter of 2005.

The company had research and development expenses totaling $5.7 million in the third quarter, down significantly from $10.0 million in the prior-year period.

Advancis reported a third-quarter net loss of $9.9 million, compared with a net loss of $5.9 million for the year-ago quarter.

At the end of the third quarter, Advancis had unrestricted cash, cash equivalents and marketable securities totaling $12.6 million, compared with $20.9 million at June 30 and $29.4 million at Dec. 31, 2005.

"We were very pleased to receive positive results from our Amoxicillin Pulsys phase 3 clinical trial during the third quarter," president and chief executive officer Edward M. Rudnic said in a company news release.

"We believe the coming months will be pivotal for Advancis, as we near completion of our New Drug Application filing by the end of the 2006, manage the commercialization of our Keflex 750 capsules, and move toward a potential approval and launch of Amoxicillin Pulsys next year."

For the first nine months of 2006, Advancis reported a net loss of $28.2 million, or $0.93 per share, and revenue from product sales of $3.6 million.

The Germantown, Md., pharmaceutical company did not change its financial guidance from recently updated forecasts. Total revenue for 2006 is expected to be $7 million to $10 million, or $1.21 to $1.31 per diluted common share. Cash, cash equivalents and marketable securities at the end of 2006 are expected to be between $4 million and $6 million.

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