InterMune Reports Second Quarter 2014 Financial Results And Business Highlights

  • Transformational H1 2014 includes presentation of Phase 3 ASCEND data, NDA resubmission and target PDUFA date of Nov. 23 for pirfenidone in U.S. -
  • Reports Esbriet® revenue of $35.7 million in Q2 2014 -

BRISBANE, Calif., Aug. 6, 2014 /PRNewswire/ -- InterMune, Inc. (NASDAQ: ITMN) today announced results from operations for the second quarter ended June 30, 2014.  The company also highlighted recent clinical development and business highlights, and updated its forward-looking financial guidance for 2014.  

InterMune reported Esbriet (pirfenidone) revenue in the second quarter of 2014 of $35.7 million, compared with $14.4 millionin the second quarter of 2013, an increase of 148 percent.  Sequentially, Esbriet revenue in the second quarter of 2014 increased 18 percent from $30.3 million in the first quarter of 2014.  Esbriet is InterMune's product for the treatment of idiopathic pulmonary fibrosis (IPF) in adults in Europe and Canada, and pirfenidone is currently under U.S. Food and Drug Administration (FDA) review for the treatment of adults with IPF in the United States.

Dan Welch, Chairman, Chief Executive Officer and President of InterMune, said, "We are pleased to report an exceptionally strong quarter with excellent progress demonstrated in all areas of our business.  We had a substantial presence at theInternational Conference of the American Thoracic Society, where the ASCEND Phase 3 results were presented and simultaneously published in the New England Journal of Medicine.  We announced in early July that the pirfenidone NDA resubmission had been accepted by the FDA and assigned a target PDUFA date of November 23, 2014.  On July 17 theFDA assigned Breakthrough Therapy Designation status for pirfenidone.

Read More at: Retail Investor 360

Disclosure: I am long on Mannkind.

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