Boston, MA 05/12/2014 (wallstreetpr) – Depomed Inc (NASDAQ:DEPO) is a speciality pharmaceutical company, which commercializes pain and neurology disorder related product. After the company had released its financial records for the first quarter on May 8, 2014, it announced to present at two forthcoming investors conferences.
Investor conferences
On May 9, 2014 Depomed announced that the officials will be taking active participation at two consecutive investor conferences. The company will present in the first conference, ‘Bank of America Merrill Lynch Healthcare Conference,’ which will take place on May 15, 2014 at 11: 00am at Las Vegas. It will be followed by the presentation at the second conference, ‘UBS Global Healthcare Conference,’ which will be held on May 19, 2014 at 9:00 am. Depomed Inc (NASDAQ:DEPO) will contribute its valuable speech on the upcoming investor conferences.
Financial report of 1Q2014
The company declared its quarterly financial report on May 8, 2014 for the phase that ended in March. Depomed Inc (NASDAQ:DEPO) gained total revenue of $76.5 million in the 1Q2014. Out of total revenue, $33.7 million was contributed by product sales, royalties, license and few other revenues and $42.8 million from non-cash PDL royalty income.
The total sales increased 136%. The product sales for the first quarter of 2013 were $9.1 million, which increased to $21.5 million by 2014. The CEO, President of Depomed, Jim Schoeneck acknowledged his gratitude to the hands behind the success of the company.
Product sales
The Gralise product sales for the first quarter of 2014 were $10.9 million compared to $6.1 million in the first session of 2013. It represented an increase of 79% within one year. Similarly, the Zipsor Product sales leaped from $3 million to $5.3 million (increased by 77%) within a span of 12 months. The CAMBIA product sales in this quarter were of $4.6 million.
GAAP and non-GAAP records
Depomed Inc (NASDAQ:DEPO) showed first quarter’s GAAP net income of $17.9 million or $0.30 per share and non GAAP adjusted net loss of $0.8 million or $0.01 per share. The company has announced cash and marketable securities of value $213 million till March 31, 2014 (after paying the taxes of October 2013 PDL royalty and milestone sale).
