Acura Pharmaceuticals, Inc. (NASDAQ:ACUR), a specialty pharmaceutical company developing products intended to address medication abuse and misuse, announced today financial results for the first quarter ended March 31, 2015.
The Company reported net income of $1.2 million for the first quarter 2015 or $0.03 per diluted share, compared to net loss of$4.1 million or $0.08 per diluted share for the same period in 2014.
Revenues for the quarter were $5.4 million compared to only $42 thousand in the first quarter of 2014 reflecting the $5.0 millionpayment arising from licensing Oxaydo to Egalet Corporation entities.
Research and development expenses associated with product candidates utilizing the Company’s LIMITX™, AVERSION® and IMPEDE® Technologies were $1.0 million in the first quarter 2015, compared to $1.4 million for the same period in 2014. Selling, marketing, general and administrative expenses were $2.3 million in each of the first quarters of 2015 and 2014. Selling expenses primarily consisted of advertising and marketing activities for NEXAFED® and NEXAFED® SINUS.
As of April 30, 2015, our unrestricted cash, cash equivalents and marketable securities less our compensating balance requirement of $2.5 million was $11.0 million. We have $10.0 million in term debt financing. (Original Source)
Shares of Acura closed today at $0.789, up $0.0094, or 1.21%. ACUR has a 1-year high of $1.38 and a 1-year low of $0.41. The stock’s 50-day moving average is $0.78 and its 200-day moving average is $0.62.
On the ratings front, Acura has been the subject of a number of recent research reports. In a report issued on May 1, MLV & Co. analyst Vernon Bernardino maintained a Buy rating on ACUR, with a $1.00 price target, which implies an upside of 23.5% from current levels. Separately, on January 9, Roth Capital’s Ed Arce reiterated a Buy rating on the stock and also has a price target of $1.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vernon Bernardino and Ed Arce have a total average return of -13.2% and 27.8% respectively. Bernardino has a success rate of 21.4% and is ranked #3552 out of 3590 analysts, while Arce has a success rate of 41.1% and is ranked #182.
Acura Pharmaceuticals Inc is a pharmaceutical company. It is engaged in the research, development & manufacture of productto address medication abuse & misuse, utilizing the Company’s proprietary, tamper-resistant AVERSION& IMPEDEtechnology platforms.