Chelsea Therapeutics Earnings Cheat Sheet: Loss Widens but Beats Estimates
Chelsea Therapeutics International, Ltd. (NASDAQ:CHTP) reported its results for the second quarter. Chelsea Therapeutics International, Ltd. is a specialty pharmaceutical company focused on the acquisition, development and commercialization of innovative pharmaceutical products.
Chelsea Therapeutics International Earnings Cheat Sheet for the Second Quarter
Results: Loss widened to $13.3 million (21 cents per diluted share) from $9.9 million (loss of 25 cents per share) in the same quarter a year earlier.
Actual vs. Wall St. Expectations: CHTP beat the mean analyst estimate of a loss of 25 cents per share.
Quoting Management: “During the second quarter of 2011, we made significant advancements toward our near-term objectives of completing our new drug application for Northera and reporting the first efficacy data for our novel-antifolate, CH-4051, in rheumatoid arthritis,” commented Dr.Simon Pedder, president and CEO of Chelsea. “Having completed our QTc study ahead of schedule and having completed enrollment for our interim RA analysis, we look forward to achieving both of these goals later this quarter.”
The company beat estimates last quarter after falling short in the previous two quarters. In the first quarter, it missed the mark by 2 cents, and in the fourth quarter of the last fiscal year, it fell short by 2 cents.
Competitors to Watch: Mylan Inc. (NASDAQ:MYL), Impax Laboratories, Inc. (NASDAQ:IPXL), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), Johnson & Johnson (NYSE:JNJ), Bristol Myers Squibb Co. (NYSE:BMY), Abbott Laboratories (NYSE:ABT), Pfizer Inc. (NYSE:PFE), Novartis AG (NYSE:NVS), Amgen, Inc. (NASDAQ:AMGN), and Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL).
(Source: Xignite Financials)