DUSA Pharmaceuticals Inc. ($DUSA) Up on Q1 Results
DUSA Pharmaceuticals Inc. ($DUSA) Up on Q1 Results
Shares of DUSA Pharmaceuticals, Inc. (NASDAQ: $DUSA) jumped more than 15% in today’s trading. The small-cap stock reached a high of $2.54 in today’s trading; at last check, shares were up 14.37% to $2.46, with volume up from daily average of 99,000 to 164,000.Wilmington, Massachusetts-based DUSA Pharmaceuticals is a vertically integrated dermatology company developing and marketing photodynamic therapy and other products for common skin conditions.
DUSA Pharmaceuticals reported its first-quarter results earlier today, reporting a year-over-year increase of 33% in first-quarter domestic Kerastick revenue and a year-over-year 27% increase in domestic PDT revenue. Total product revenue stood at $8.7 million, up 22%. The company reported a GAAP net loss of $0.4 million, which is down 74% from the previous year. The company’s first-quarter results show significant improvement compared with the same period last year. DUSA Pharmaceuticals president and CEO Robert Doman highlighted that the company managed to generate positive cash flow for a second consecutive quarter.
On May 7, the company reported that the United States Patent and Trademark Office had issued a notice of allowance for a key patent, which is related to the company’s proprietary PDT light source. Doman had said that the patent would further strengthen the protection of the company’s Levulan PDT therapy. Doman also mentions that the successful execution of its intellectual property protection strategy would significantly enhance the company’s patent portfolio for Levulan and will present the company an opportunity to continue to grow its revenue.
The small-cap stock has seen some price fluctuations in the past one year with a 52-week range of $0.88-$2.75. The small-cap stock has a beta of 0.62. At the moment, the stock has one Buy rating. It is trading above its 50-day and 200-day moving averages, currently.
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