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news.Cornerstone Therapeutics, a specialty pharmaceutical company engaged in acquiring, developing and commercializing products for the respiratory and related markets, has reported net revenues of $30m for the first quarter ended 31 March 2011, as compared to $36.41m for the same period in 2010.
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The company has reported a net income of $1.74m, or $0.07 per diluted share, compared to net income of $5.01m or $0.19 per diluted share, for the same period last year.
The company’s income from operations was $2.54m, as compared to $8.06m for the same period prior year.
Cornerstone president and CEO Craig Collard said they have made further progress on CRTX 067 with the FDA in the first quarter and continue to expect approval in the near term, with the target of having the product on the market for the coming cough and cold season.