October 25, 2010 / 9:07 PM / in 7 years

UPDATE 1-SuperGen Q3 beats Street, ups FY10 profit view

* Q3 EPS $0.06 vs est $0.01 loss/shr

* Q3 rev 13.4 mln vs est $11.18 mln

* Sees FY net income less than $12 mln

* Sees FY Dacogen royalty rev $49-$52 mln

Oct 25 (Reuters) - SuperGen Inc SUPG.O posted better-than-expected third-quarter profit helped by royalty revenue from its blood cancer drug, and raised its full-year profit outlook, sending shares up 9 percent in extended trade.

The company expects full-year profit of less than $12 million, up from its prior view of less than $4.5 million.

The company also sees royalty revenue from Dacogen of $49-$52 million compared with its prior view of $44-$48 million.

Dacogen is an injection for treating patients with acute myeloid leukemia, a type of blood cancer.

For the July-September, the company posted a net income of $3.9 million, or 6 cents a share, compared with $833,000 or 1 cent a share, a year ago.

Revenue rose 29 percent to $13.4 million. Royalty revenue from Dacogen rose was up $2.8 million to $13.2 million.

Analysts on an average were expecting a loss of 1 cent a share on revenue of $11.18 million, according to Thomson Reuters I/B/E/S.

Dublin, California-based SuperGen’s shares, which have risen 22 percent since the company posted second-quarter results in August, were up 9 percent to $2.55 Monday after market. They closed at $2.33 on Nasdaq. (Reporting by Shravya Jain in Bangalore; Editing by Roshni Menon)

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