The Bridgewater, N.J.-based company posted a net loss of -$11.9 million on sales of $6.89 million for the three months ended Dec. 31, for sales growth of 19% compared with the same period last year.
Earnings per share were -19¢, behind the consensus on The Street. But the company beat sales estimates on Wall Street – analysts were looking for sales of $6.85 million where analysts were looking for sales of $YY million.
For the full year, Valeritas posted a net loss of -$45.9 million on sales of $26.4 million.
“2018 was a successful year for Valeritas, as we accomplished numerous goals including generating higher year-over-year total prescription growth in every quarter and expanding the global footprint for V-Go,” president & CEO John Timberlake said in prepared remarks. “Importantly, additional studies continue to demonstrate that use of V-Go provides significant clinical and economic benefits compared to conventional insulin injection delivery in patients with Type 2 diabetes. With the just completed expansion of our U.S. sales force by twenty-five territories, we look forward to building on our momentum of strong execution, and we remain confident in our ability to drive solid sales volume and patient market share in 2019.”
VLRX shares were trading at $0.47 apiece today after the market closed, down -14.5%.