Egalet Corporation (NASDAQ:EGLT) headquartered in Wayne, PA, announced net loss for the third quarter of $ 51.23 million or $ 0.93 per share, compared to loss $ 18.95 million or $ 0.46 per share for the year-ago quarter.
Analysts from Thomson Reuters expected loss of $ 0.25 per share.
Top line figures for the third quarter rose 23% to $ 8.15 million from $ 6.65 million in the same quarter last year, where as analysts anticipated $ 8.35 million.
Bob Radie, President and CEO, commented, In the third quarter, we grew our commercial products and had the highest revenue for any quarter since we acquired SPRIX and licensed OXAYDO in January 2015. For the remainder of the year, we are focused on continuing to grow SPRIX and OXAYDO revenues and working toward the anticipated first quarter 2019 closing of our previously-announced acquisition and financial restructuring.