Depomed has posted a net income of $1.89m for the third quarter 2010, or $0.04 per diluted share, compared to $1.37m, or $0.03 per diluted share, for the comparable period in 2009.
Income from operations was $1.92m, compared to $1.42m for the comparable period in 2009.
For the nine months ended 30 September 2010, Depomed has posted a revenue of $59.91m, compared to $44.49m for the year ago period.
Depomed has posted a net income of $2.19m, or $0.04 per diluted share, for the nine months ended 30 September 2010, compared to net loss of $18.4m, or $0.36 loss per diluted share, for the year ago period.
Income from operations was $2.41m, compared to loss from operations of $18.36m for the year ago period.
Depomed president and CEO Carl Pelzel said that they made good progress on their internal pipeline and their partner collaborations in the third quarter.
"We reached an SPA agreement with the FDA for Serada’s Breeze 3 trial and immediately initiated patient enrollment, so the Breeze 3 trial is well underway," Pelzel said.
"We are pleased that we continued to monetise our technology and bolster our potential future royalty streams with a licensing deal with Janssen Pharmaceutica and milestone payments from Covidien and Merck."
Depomed is a specialty pharmaceutical company which formulates its products and product candidates with its proprietary Acuform drug delivery technology designed to improve existing oral medications, allowing for extended, controlled release of medications to the upper gastrointestinal tract.