NitroMed's 2Q sales of BiDil below expectations
by Marie-Eve Laforte -- August 03, 2006

NitroMed reported Thursday that heart failure drug BiDil's second-quarter sales of $2.9 million accounted for the company's entire revenue for the period, which came in below analyst' expectations of $5 million. Shares of NitroMed fell as much as 22 percent after the company released its quarterly results.

Prescriptions for BiDil, which was launched in July 2005, grew 20 percent in the second quarter compared to the first three months of this year, the drugmaker noted in a statement. Overall, NitroMed reported a second-quarter net loss of $18.3 million, compared to a loss of $22.6 million last year.

Additionally, NitroMed withdrew its full-year net sales guidance of $20 million, citing uncertainty over the prescription growth rate for BiDil. "While we expect that our second quarter achievements will contribute to improved prescription growth moving forward in 2006, there remain considerable opportunities and challenges ahead and we are not relaxing our efforts to realise both near- and long-term gains for BiDil and the company," interim CEO Argeris Karabelas stated, news sources report.

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