Despite a healthcare company, Biodel Inc (NASDAQ:BIOD) reported little success in its field so far. The specialty biopharmaceutical company last reported its first quarter results in February, when it failed to come at par with the analysts’ expectations. The company reported the earnings per share at -$0.20, which missed the estimates of -$0.17. The cash and cash equivalents of the company came in at $19.7 million.
More highlights of results
The company posted zero revenues in its first quarter, where its Research & Development costs ran into negative by 8.1% to $3.4 million. The company reported net loss of $4.7 million while its quick assets shrank by nearly 20% to $19.7 million. The company’s Selling; General & Administrative expenses put the highest dent in its wallet as they escalated by 28.6% to $1.8 million. Biodel Inc (NASDAQ:BIOD) did not provide any future guidance that made the investors susceptible about its functioning.
The earnings call of the company was centered on the portfolio highlights and bulky promises. Biodel Inc (NASDAQ:BIOD) said that it reported positive outcomes from its Study 3-151, which showed higher post-meal glucose control as against the marketed basal insulin. The glucose control was substantial in patients, who require high insulin doses. It added that the dosing is on track pertaining to Study 6-101 Phase 1 under the Glucagon Emergency Management (GEM) Program. The company anticipates top line data from the study by the end of the first calendar quarter of the year 2015.
Meanwhile, Biodel Inc (NASDAQ:BIOD) said that it has planned another multi-dose Phase 2b study in type 2 diabetes patients, who have moderate insulin resistance. These patients will receive doses of BIOD-531 or Humalog twice daily for a total period of 18 weeks. Such highlights announced by the company failed to garner any attention as the stock remained in red at $1.34 in the last trading session.