Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) announced financials for the recently concluded 4Q2015 and full year. As per the reports, the overall Iclusig revenues in the fourth quarter were $33.3 million, 56% higher than the revenue reported by the company in 4Q2015.
Along with financial results, Ariad also announced product development and major key initiatives to be taken in the coming months.
Insights of Financial Highlights
The major contribution in Iclusig came from U.S. market itself, which contributed $25 million revenues, up 48% from the revenues generated during the same period in 2014. The European markets contributed just $8.2 million; however, it was 86% more than what Ariad witnessed in the previous year.
When it comes to yearly revenues, Iclusig contributed as much as $112.5 million revenues in the year 2015, up 102% from the year 2014. The net product revenue in U.S. market was $85.7 million, 114% higher than the revenues reported in 2014. The yearly growth in EU net product revenue was comparatively lower than the U.S. market as it accounted for $26.8 million, up 71% from 2014.
Despite all the efforts, Ariad couldn’t achieve a profitable position in 4Q2015. The net loss for the December quarter was $59.9 million as compared to a net loss of $5.8 million in 4Q2014. The R&D expenses for the quarter totaled to $44.8 million, up 37% from the previous year. The selling, general & administrative expenses for the quarter were $43.8 million, 9% higher than the 4Q2014.
In terms of the full year 2015, it suffered a total loss of $231.2 million in 2015 as compared to $162.6 million loss in 2014. At the end of the December quarter, Ariad had over $242.3 million in the form of cash, cash equivalent, and marketable securities as compared to previous year’s $352.7 million.
Going forward it will come up with new product launches to attain profitable position by the end of the next quarter.