UPDATE 1-Auxilium Pharma Q4 revenue beats Street, shares up

Mon Jan 10, 2011 12:56pm EST

* Q4 prelim rev $61.8 mln vs est $57 mln

* Shares up as much as 17 pct

Jan 10 (Reuters) - Auxilium Pharmaceuticals Inc (AUXL.O) reported fourth-quarter revenue that beat market estimates, helped by higher sales across all its segments, sending its shares up as much as 17 percent.

For the fourth quarter, the company reported preliminary revenue of $61.8 million while analysts on average were expecting revenue of $57 million, according to Thomson Reuters I/B/E/S.

For 2011, the company expects to report $55-$67 million in revenue from its hand disorder drug, Xiaflex, which was launched in February.

Auxillium, which will be attending the J.P. Morgan Healthcare Conference in San Francisco on Tuesday, said it believes Xiaflex may become a blockbuster drug.

The company's shares, which have lost 14 percent since it reported third-quarter results in November, were up 13 percent at $23.17 on Monday on Nasdaq after touching a high of $24.14. (Reporting by Anand Basu in Bangalore; Editing by Joyjeet Das)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.