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news.Trimeris has announced that growing sales of its Roche co-developed HIV treatment, Fuzeon, have contributed to improved 2004 earnings results, with a reduction in net losses for the fourth quarter and year ended December 31, 2004.
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Trimeris reported a net loss for the fourth quarter of 2004 of $5.7 million, compared with a loss of $8.3 million in the third quarter of 2004, and $15.1 million in the fourth quarter of 2003. For the year ended 2004, the company’s net loss totaled $40.1 million, compared with a loss of $65.7 million for 2003.
For the year ended 2004, worldwide net sales of Fuzeon totaled $135.2 million compared to just $36.5 million in 2003. Net sales of Fuzeon in the US and Canada for 2004 were $85.7 million compared to net sales of $28.3 million in 2003, while net sales outside the US and Canada for 2004 were $49.5 million, compared to $8.2 million in 2003.
The decrease in net loss for 2004 compared to 2003 is primarily due to the increase in gross profit from the sale of Fuzeon and the decrease in R&D expenses offset, in part, by an increase in general and administrative expenses.
“We have made significant progress with Fuzeon in 2004, as demonstrated by the continued worldwide growth through the fourth quarter,” said Steven Skolsky, CEO of Trimeris. “With this solid foundation and further focused medical, marketing and promotional efforts, we expect continued growth in 2005.”