XenoPort Inc’s total revenues for the second quarter ended June 30, 2015 were $8.6 million, compared to $5.3 million for the same period in 2014. Net loss for the second quarter was $24.5 million, compared to a net loss of $19.4 million for the same period in 2014. At June 30, 2015, XenoPort had cash, cash equivalents and short-term investments of $170.4 million.
The following key events occurred since the beginning of the second quarter of 2015:
- Net product sales for Horizant (gabapentin enacarbil) Extended-Release Tablets were $8.2 million in the second quarter, an increase of 67% compared to the second quarter of 2014 and an increase of 24% compared to the first quarter of 2015.
- As of July 1, 2015, XenoPort completed the expansion of the Horizant Neuroscience Health Specialist team, expanding its educational efforts primarily to neurology, sleep, and pain specialists to cover 120 territories in the United States.
- XenoPort and the National Institute on Alcohol Abuse and Alcoholism (NIAAA) announced that the NIAAA initiated a clinical trial ofHorizant as a potential treatment for alcohol use disorder (AUD).
- XenoPort reported that new expert recommendations for the prevention and treatment of augmentation in patients suffering from restless legs syndrome (RLS) list gabapentin enacarbil as a first-line therapy with a lower risk of developing augmentation. In addition, gabapentin enacarbil is listed as an alternative treatment for the management of patients suffering from augmentation who were previously treated with dopaminergic medication. The recommendations were created by the combined Task Force from the International RLS Study Group (IRLSSG), the European RLS Study Group (EURLSSG) and the RLS Foundation.
Ronald W. Barrett, PhD, XenoPort CEO says in a release, “In the second quarter, we saw strong growth of Horizant prescriptions and net sales. With the recent addition of approximately 50 new Neuroscience Health Specialists to educate a broader pool of healthcare providers about Horizant, we believe that there will be an acceleration of growth inHorizant sales in the second half of the year and that we are on track to meet our net sales guidance of $39 to $43 million for 2015. We are excited that the NIAAA has initiated its AUD study of HORIZANT. This large study of approximately 350 subjects will provide important information about HORIZANT as a potential treatment for patients with AUD.”