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ThromboGenics reports €75.1 million in revenue for first three quarters

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ThromboGenics reported €75.1 million in revenue for the first 9 months of 2012, compared to €2.5 million for the same period last year, according to a press release.

The 2012 revenues are almost entirely a result of upfront payments from Alcon for the commercialization of Jetrea (ocriplasmin) outside the United States, according to the release. The agreement calls for up to €375 million in upfront and milestone payments plus royalties.

Sales and marketing expenses for the first three quarters increased from €5.6 million to €8.1 million as ThromboGenics prepares to launch Jetrea in the United States.

The company has €168.6 million in cash and cash investments as of Sept. 30, compared with €186.1 million as of June 30.

The cash plus payments from Alcon will allow ThromboGenics to execute operational plans beyond the Jetrea launch in the United States, according to the release.