Acceleron Pharma Inc., of Cambridge, Mass., reported revenue of $4.3 million for the first quarter, including $2.8 million of cost share revenue and $1.5 million of royalty revenue from net U.S. sales of Reblozyl (luspatercept), which gained FDA approval late last year for beta-thalassemia. Partner Bristol Myers Squibb Co., of New York, reported in its first-quarter earnings that Reblozyl sales reached about $8 million for the three-month period. Acceleron posted a net loss of $50.9 million, or 95 cents per share, for the first quarter. As of March 31, it had cash, equivalents and investments totaling $415.6 million. Shares of Acceleron (NASDAQ:XLRN) closed May 12 at $100.71, down $4.39.
Catalyst Pharmaceuticals Inc., of Coral Gables, Fla., reported first-quarter net revenue of $29.1 million for Firdapse (amifampridine), approved for Lambert-Eaton myasthenic syndrome (LEMS), marking an increase of 134% over the same period of 2019. The company said it nearly doubled the size of its sales force in the first quarter, and 46 new LEMS patients were prescribed Firdapse during the quarter. However, due to the COVID-19 pandemic, Catalyst is withdrawing its previous revenue guidance. The company reported GAAP net income of $10.4 million, or 10 cents per share, for the quarter. As of March 31, its cash and investments totaled $101.8 million. Shares of Catalyst (NASDAQ:CPRX) closed May 12 at $4.58, down 46 cents.
GW Pharmaceuticals plc, of London, reported total revenue of $120.6 million for the first quarter. Net product sales of Epidiolex (cannabidiol), approved for Lennox-Gastaut syndrome and Dravet syndrome, were $116.1 million. Earlier this year, GW filed with the FDA to expand use of Epidiolex to include treatment of seizures associated with tuberous sclerosis complex. With priority review from the agency and a July 31 PDUFA date, the company said it is preparing to launch the drug for that indication in August. GW posted a first-quarter net loss of $8 million. As of March 31, its cash and equivalents totaled $500.9 million. Shares of GW (NASDAQ:GWPH) closed May 12 at $114.51, up $5.35.
Omeros Corp., of Seattle, reported first-quarter revenues, all related to sales of miosis drug Omidria (phenylephrine and ketorolac injection), of $23.5 million, compared to $21.8 million in the same period in 2019 and $33.4 million for the fourth quarter of 2019. Omeros attributed the quarter-over-quarter decrease to declining sales beginning in early March as a result of inventory utilization by ambulatory surgery centers (ASCs) and hospitals in anticipation of the COVID-19-related shutdown of elective surgical procedures. In early May, a large number of states began re-opening ASCs and hospitals to cataract surgery, and facilities in at least 36 states have already initiated re-ordering of Omidria from wholesalers, Omeros said. The company’s net loss for the quarter was $29 million, or 53 cents per share. As of March 31, its cash, equivalents and short-term investments totaled $54 million. Shares of Omeros (NASDAQ:OMER) closed May 12 at $15.02, down $1.97, or 11.6%.