Shares in Valeritas (NSDQ:VLRX) rose today after the medical device maker topped expectations on Wall Street with its third-quarter financial results.
The Bridgewater, N.J.-based company posted a net loss of -$11.5 million on sales of $6.9 million for the 3 months ended Sept. 30. Sales were up 37% compared with the same period last year.
Earnings per share were -49¢, ahead of consensus on The Street, where analysts were looking for sales of $6.85 million.
“Our third quarter results demonstrate our continued success in generating strong V-Go prescription and sales growth,” president & CEO John Timberlake said in prepared remarks. “I am confident that our targeted sales approach focusing on key prescribers coupled with our direct to patient marketing approach will continue to drive our success into 2019.”
Valeritas said it expects to post sales of $26 million to $26.5 million for the full year.
VLRX shares were trading at $1.25 apiece today in premarket activity, up 4%.
In October, Valeritas’ wearable insulin delivery device, V-Go, launched in Italy. The company inked an exclusive distribution deal with Movi SpA to bring its V-Go device to the more than 2 million people in Italy with Type 2 diabetes.
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