InterMune, Inc.’s (NASDAQ:ITMN) first quarter loss narrowed, beating estimates. InterMune, Inc. is a biotech company, which is focused on developing and commercializing innovative therapies in pulmonology and hepatology.
InterMune Earnings Cheat Sheet for the First Quarter
Results: Loss narrowed to $32.1 million (loss of 56 cents/diluted share) by 5.8% from $34.1 million (loss of 66 cents/share) in the same quarter a year earlier.
Revenue: Rose 4.4% to $6.4 million YoY.
Actual vs. Wall St. Expectations: ITMN beat the mean analyst estimate of a loss of 76 cents/share. Estimates ranged from a loss of 42 cents per share to a loss of $1.04 per share.
Quoting Management: Dan Welch, Chairman, Chief Executive Officer and President of InterMune said, “First quarter events were highlighted by the announcement on March three that the European Commission had granted marketing authorization for Esbriet® (pirfenidone) for the treatment of adults with mild to moderate idiopathic pulmonary fibrosis, or IPF. The approval of Esbriet not only marks an historic moment in the treatment of IPF patients, but also an exciting new chapter for our company as we now transition to become an international commercial organization. We are working diligently to make Esbriet available to European patients as soon as possible, beginning with Germany in September of this year.”
Competitors to Watch: Gilead Sciences, Inc. (NASDAQ:GILD), Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX), Amgen, Inc. (NASDAQ:AMGN), Amarillo Biosciences, Inc. (AMAR), Merck & Co., Inc. (NYSE:MRK), Pfizer Inc. (NYSE:PFE), Pharmasset, Inc. (NASDAQ:VRUS), Roche Holding Ltd. (RHHBY), and Anadys Pharmaceuticals, Inc. (NASDAQ:ANDS).
Today’s Performance: Shares of ITMN are trading at $45.52 as of April 28, 2011 at 3:39 PM ET, down 6% from the previous closing price of $48.48.