Biotechnology company InterMune Inc. said Thursday its first-quarter loss widened on lower revenue from its immune-system disorder drug Actimmune.
The company lost $26.3 million, or 68 cents per share, compared with a loss of $20.7 million, or 61 cents per share, during the same period a year prior. Revenue fell to $9.3 million from $20.3 million.
Analysts surveyed by Thomson Financial forecast a loss of 58 cents per share on revenue of $9.8 million.
Revenue during the quarter consisted mainly of Actimmune sales, which fell 56 percent during the quarter. The company said the sales drop reflected lower off-label use of Actimmune as a treatment for idiopathic pulmonary fibrosis. InterMune does not promote the drug for that use, it said. Actimmune is only approved to treat an immune-system disorder and bone disease.
In 2006, the company agreed to pay $37 million to settle charges it promoted Actimmune to treat idiopathic pulmonary fibrosis, a condition involving scarring of lung tissue. In 2007, the company stopped a study testing the drug as a possible treatment for that condition.
Shares of InterMune fell 12 cents to $16.28 in after-hours trading after rising 55 cents, or 3.5 percent, to $16.40 during the regular trading session.
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