Net loss for the quarter totaled $12.1 million, while the company's cash position remained strong at $227.7 million.ĬEO Stefano Buono commented that NETSPOT sales were growing rapidly with over 100 institutions in the United States utilizing it and delivering doses at a run rate of around 800 doses per month. Sales of NETSPOT in the United States amounted to $4 million, with unit sales per month leaping 140%. This increase was attributable to growth in the PET product category, which increased 41% to $24 million. While unfortunately the company received a CRL (complete response letter) from the FDA in response to its regulatory filing, I believed that issues raised were readily addressable in the near to medium term.įor the first quarter of 2017 the company reported total sales of $34.9 million, representing 21% growth over the same quarter last year.
NETSPOT ADVANCED ACCELERATOR APPLICATIONS TRIAL
The lead drug candidate is thought to possess significant commercial potential and data from its pivotal trial in showed a 79% reduction in the risk of disease progression or death as compared to patients treated with Novartis' ( NVS) Sandostatin off-label (the latter did over $1.6 billion in sales in 2016). Keys to the investing thesis included reduced risk and increased stability in the form of a steadily growing diagnostics business, while the therapeutics pipeline led by Lutathera offered substantial upside. Shares of Advanced Accelerator Applications ( NASDAQ: AAAP) have risen over 50% since late January when I first highlighted the stock, stating that I expected "2017 to be a year of substantial appreciation for shareholders".
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