Barrier's 1st-qtr loss narrows 9%

USA-based Barrier Therapeutics' first-quarter 2008 revenues totaled $8.4 million, up 207% year-on-year, as net loss narrowed 9% to $14.0 million, or $0.40 per share. The deficit includes $2.6 million of one-time restructuring charges, primarily severance costs, from the company's international and US headquarters. At the close of the reporting period, cash, cash equivalents and marketable securities were $37.3 million.

"We are pleased with the year-on-year growth of our products, but we recognize our performance in the first quarter of 2008 is less than we planned. We have taken specific and immediate actions, including personnel and marketing program changes, that we believe will put us back on a solid growth track," said Al Altomari, chief executive of Barrier. Recent IMS weekly sales data suggests that the firm has regained some momentum in prescription growth on both Vusion (0.25% miconazole nitrate, 15% zinc oxide, 81.35% white petrolatum) ointment for diaper dermatitis and Xolegel (ketoconazole, USP), for the topical treatment of seborrheic dermatitis, he said, but noted that, in light of the first quarter results, Barrier now expects full-year fiscal 2008 revenues to be in the range of $40.0 million to $46.0 million, representing 65% to 90% growth on 2007.