Total revenue for 2006 from sales of Keflex products is now expected to be approximately $7 million to $10 million, down from prior expectations of $16 million to $17 million.
Adavncis commented that the predicted loss was due to retail pharmacy stocking of Keflex being lower than expected in August and September of 2006.
In late September, Advancis commenced specific initiatives to significantly increase the number of pharmacies stocking Keflex. Based on these initiatives, the company believes more than 20,000 pharmacies will carry Keflex by the end of October.
“We do not believe that this delay will have a material effect on our performance next year or impact the long-term potential of Keflex,” said Dr Edward Rudnic, Advancis president and CEO.
Net loss for the year is expected to be between $1.21 and $1.31 per diluted common share.