Boston, MA 05\/28\/2014 (wallstreetpr) \u2013\u00a0Total revenue for the first quarter was $11.8 million, which includes $8 million as product revenue and $3.8 million as license revenue.<\/p>\n
Initiate growth<\/b><\/p>\n
Net product revenues including sales of Iclusig were $8.0 million, 25% year over year increase compared to $6.4 million during the same period last year. It includes Iclusig\u2019s sales of $3.3 million in Europe and $4.7 million from the U.S. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)<\/strong>\u00a0is yet to recognize the revenue related to Iclusig inventory available in the transit.<\/p>\n License revenues rose during first quarter due to the milestone payments of $3.75 million from Medinol to develop and market its drug-eluting stents. However, Ariad is not going receive further payments in coming quarters that may create a challenge to offset.<\/p>\n The available funds are mostly utilizing over R&D and commercialization of Iclusig, therefore, Ariad is yet to report positive earnings. The increasing investment over commercial expansion of Iclusig in Europe and re-launch of Iclusig in the U.S. raised the SG&A costs by 7% compared to prior year period. However, declining clinical trial costs reduced the R&D expenses by 31%. Subsequently, Ariad reported lower net loss of $49.8 million compared to $64.7 million a year\u2019s ego.<\/p>\n Cash crunch<\/b><\/p>\n Lower loss compared to prior year period coupled with improvement in working capital decreased the cash outflows to $52.4 million through its operating activities (1Q2013: $68.5 million).<\/p>\n Ariad is flexible in funding the entire operation through available cash, sale and issuance of common stocks, milestone payments and additional borrowings. As of March 31, 2014, Ariad has a cash balance of $183 million and working capital of $132 million to meet the current requirements. In addition, the Company has shareholder\u2019s equity of $145.2 million and $3.7 million of long-term debt.<\/p>\n Final take<\/b><\/p>\n <\/b>Ariad continues to commercialize Iclusig in Europe and the U.S. as Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)\u00a0expects growth in product revenue from the sales of Iclusig in the coming quarters.<\/p>\n","protected":false},"excerpt":{"rendered":" Boston, MA 05\/28\/2014 (wallstreetpr) \u2013\u00a0Total revenue for the first quarter was $11.8 million, which includes $8 million as product revenue and $3.8 million as license […]<\/p>\n","protected":false},"author":2,"featured_media":23746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[2780,2781],"stock_ticker":[],"class_list":["post-23739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-ariad-pharmaceuticals-inc-nasdaqaria","tag-nasdaqaria","entry"],"acf":[],"yoast_head":"\n