Boston, MA 03/06/2014 (wallstreetpr) – Insys Therapeutics Inc. (NASDAQ:INSY) was one of the top gainers after reporting impressive earnings for its fourth quarter that beat analysts’ estimates. The strong results reported for the quarter and full year were heavily impacted by strong growth in the Subsys prescriptions that are used to alleviate pain in patients with cancer.
Fourth Quarter Financial
Total revenue for the fourth quarter was one of the top gainers having moved up by as much as $35 million to highs $40.2 million in the fourth quarter as compared to the same quarter a year ago. Fourth quarter revenue was also up by $11 million as compared to the third quarter of the same financial year which stood at $29 million. Total revenue for the full year ending December 31, 2013 clocked in at $99.3 million an increase from $15. Million reported as of December 31, 2012
Gross margin for the fourth quarter stood at 87%, an improvement when compared to the 60% margin reported for the same quarter a year ago. The increase in the gross margin was mainly as a result of a shift in sales mix that mainly focused on Subsys.
Insys Therapeutics Inc. (NASDAQ:INSY) sales and marketing expenses clocked in at $10.5million for the quarter up from $3.2 million reported in the same quarter a year ago. Gross margin for full year ending December 2013 came in at 87% compared to 2012’s 51%.
Research and development expenses came in at $3.2 million compared to $0.7 million registered in the same quarter a year ago while General and administrative expenses came in at $7.0 million against $2.6 million reported in the same quarter in F2012.
Insys Therapeutics Inc. (NASDAQ:INSY) net income for the quarter came in at $24.1 million compared to a net loss of $7.1 million reported in the same quarter a year ago
Insys Therapeutics Inc. (NASDAQ:INSY) went down by 8.94% in Wednesday trading session closing the day at a low of $75.92
