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news.Santarus, a specialty pharmaceutical company, has reported net loss of $10.2 million, or $0.19 basic and diluted net loss per share, including $13.9 million in fees and expenses related to a strategic collaboration for the fourth quarter of 2008, compared to a net loss of $8 million, or $0.16 basic and diluted net loss per share in the same period of 2007.
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For full year 2008, the company reported net loss of $18.5 million, or $0.36 basic and diluted net loss per share, a 58% reduction compared to a net loss of $44.3 million, or $0.87 basic and diluted net loss per share in 2007.
For the fourth quarter of 2008, total revenues increased 33% to $37.5 million, compared with $28.3 million in the same period of 2007. For full year 2008, total revenues increased 38% to $130.2 million, compared with $94.4 million in 2007.
Gerald Proehl, president and CEO of Santarus, said: “For the fourth quarter, we achieved record revenues of $37.5 million as well as generating more than $7 million in positive cash flow from operations. Total revenues for 2008 grew to $130.2 million, exceeding our full year 2008 revenue guidance that we revised higher last November.
“In addition, our financial results exceeded our guidance of break even in the fourth quarter excluding fees and expenses payable to Cosmo under our strategic collaboration announced in December 2008.”