Auxilium Q4 net loss widens

Net loss for the fourth quarter of 2008 includes total stock-based compensation expense of $3.7 million, compared to $1.8 million for the fourth quarter of 2007.

For the full year 2008, Auxilium’s net loss was $46.3 million, or $1.12 per share, compared to a net loss of $40.7 million, or $1.07 per share, for the full year 2007. Net loss for 2008 includes total stock-based compensation expense of $11.7 million, compared to $6 million for the full year 2007.

For the quarter ended December 31, 2008, Auxilium reported net revenues of $34.8 million, compared to $27.7 million in the fourth quarter of 2007, an increase of 25%. For the full year 2008, net revenues totaled $125.4 million, compared to $95.7 million for the full year 2007, an increase of 31%.

Armando Anido, CEO and president of Auxilium, said: We believe 2008 was a transformational year for Auxilium and a huge success. We achieved record revenues for Testim in 2008, released compelling Xiaflex Phase III clinical data in Dupuytren’s contracture and signed an agreement with Pfizer to be our partner for Xiaflex in Europe.

We continue to believe that Xiaflex represents a blockbuster opportunity that can provide sustainable long-term growth for the company and that we are on track to file our US. Xiaflex biologics license application for Dupuytren’s contracture in early 2009.