DUSA Pharmaceuticals Inc. (NASDAQ: DUSA) had a positive start this morning, edging up 10 percent to $2.60 a share this morning on the company’s recent posting of its second quarter financial results for 2007.
According to the results, it looks like things have been fairly good for DUSA. The company reported that total product revenues for the company had increased from $6.6 million to $6.9 million. Revenue on its Levluan photodynamic therapy (PDT) product was also up, climbing to $4.1 million from $3.8 million the year before. Total product revenues for the six months ended June 30, 2007, were $13.5 million as compared to the $11.4 million the year before, and PDT revenues totaled $8.6 million versus $7.7 million the previous year. However, the company’s total assets decreased sharply, falling from $33.7 million to $28.8 million.
Still, the numbers pale in comparison to the news DUSA released along with its financials. According to the statement, DUSA’s been extremely busy over the past quarter. Not only did the company recently launch its Levulan PDT product in Latin America, but the company also began working on ways to market some of its products to a larger market.
Robert Doman, DUSA’s CEO and president, took some time to explain what his company’s been up to.
“During the quarter, we invested a considerable amount of sales resources on the launch of our new product, ClindaReach, and instituted strategies aimed at mitigating the effects of the reentry of the River’s Edge product to the market,” Doman said. “While managing these additional factors, we are pleased to report that we were able to grow our U.S. Kerastick revenue by 19 percent year over year.
“Our Phase IIB clinical trial of Levulan PDT for the treatment of moderate to severe acne is now well underway,” Doman added. “We are also pleased to report that, subsequent to the end of the quarter, we received our first purchase orders for Levulan Kerastick units for Latin America. This is a significant step forward as we continue to expand our PDT franchise globally.”
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